Socialism is impossible, due to the inability to use economic calculation when the means of production are State controlled. When you don't have profits, and y

Socialism is impossible, due to the inability to use economic calculation when the means of production are State controlled. When you don't have profits, and you don't have market prices, then you have no idea when you should be switching away from some resources and using others. Resources get squandered, there's no way to make sure they go to their most valued use. That's the beauty of Capitalism, we make sure resources go to where they are most needed by selling it to the highest bidder. Ex: If copper prices go up, some people - those who can - will substitute away from it, thus allowing the copper to go to it's most valued use. If interested, I recommend 'Economic Calculation in the Socialist Commonwealth' by Ludvig Von Mises [http://mises.org/econcalc.asp http://mises.org/econcalc.asp] Also good is Friedrich Hayek's 'Competition as a Discovery Procedure' [http://mises.org/journals/qjae/pdf/qjae5_3_3.pdf http://mises.org/journals/qjae/pdf/qjae5_3_3.pdf]