The recollection of the liberation of the peasants and the abolition of slavery hovers vaguely in Marx’s mind and even more so in the minds of many other socialists. But they fail to see that the position of the feudal lord was quite different from that of the entrepreneur. The feudal lord had no influence on production. He stood outside the process of production: only when it was finished did he step in with a claim to a share in the yield.
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All socialists overlook the fact that even in a socialist community every economic operation must be based on an uncertain future, and that its economic consequence remains uncertain even if it is technically successful.
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If the socialist community does not supply the comrades with the goods which they themselves want to enjoy, but with those which the rulers think they ought to enjoy, the sum of satisfactions is not increased, but diminished. One certainly could not call this violation of the individual will ‘economic democracy.’
For it is an essential difference between capitalist and socialist production that in the first men provide for themselves, while in the second they are provided for. The socialist wants to feed and house humanity and cover its nakedness. But men prefer to eat, dwell, dress and generally to seek happiness after their own fashion.
Source: Socialism: An Economic and Sociological Analysis (1951) by Ludwig von Mises.
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