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[Editor's note: this article is excerpted from part IV of The Anti-Capitalistic Mentality. In the nineteenth and twentieth century, socialists often argued that socialism was superior to capitalism because it would deliver a higher standard of living and more consumer goods.

Ludwig von Mises didn’t like references to the "miracle" of the marketplace or the "magic" of production or other terms that suggest that economic systems depend on some force that is beyond human comprehension. In his view, we are better