Why is Capitalism impossible under Oligarchy?Ludwig von Mises on Ideological Foundations of Capitalism

In Mykola Bunyk & Iryna Kiyanka (eds.), Economics and Bureaucracy in a Open Society. In Honor of the 130th Anniversary of the Birth of Ludwig von Mises. pp. 178-186 (2012)
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. The author has compared the world-view attitudes of oligarchy and capitalism on the basis of analysis of Ludwig von Mises’ writings. The results of such comparison allow us to maintain that there is neither market economy nor competition, and so nor capitalism in Ukraine. The world-view basis of capitalism is the philosophy of liberalism, which has such principles as equality, freedom, inviolability of private property, cooperation in favor of profits of the whole society. On the contrary, oligarchy based on the strong desire of infinitive enrichment and exploitation hasn’t any philosophical basis.

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Ihor Karivets
State University Lvivska Polytechnic


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