“All rational action is economic. All economic activity is rational action. All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts.”

— Ludwig von Mises , book Socialism

Part II : The Economics of a Socialist Community, § I : The Economics of an Isolated Socialist Community, Ch. 5 : The Nature of Economic Activity, p. 97 http://www.econlib.org/library/Mises/msS3.html#Part%20II,Ch.5
Socialism (1922)
Source: Socialism: An Economic and Sociological Analysis

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Ludwig von Mises 62

austrian economist 1881–1973

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