...

The gift of Austrian economics in part is to provide with a scientific explanation via marginal utility about how this process works. Absent marketplace competition and the invisible hand, there is simply no way that capital will find the appropriate channels. It is impossible. State planning simply cannot determine where money should flow with any certainty - though in fact the state planning process is not really concerned with such things, being basically a political apportionment.

...

We would urge readers of the Daily Bell to seek out the work of such free-market philosophers as Tibor Machan because the rational appraisal of state duties is at the heart of the conversation about freedom. One can hardly be a responsible citizen in our estimation (and many are not) without considering these issues. Machan has spent a career enumerating them and we are grateful for his efforts in this area and for the publications by him and his colleagues that continue to shed light on the important and controversial boundary line between "citizen and state."

...