On Wednesday, Elon Musk, CEO of Tesla and SpaceX, expressed his support for Austrian economics, particularly the views of Ludwig von Mises, emphasizing that prices are essential for a functioning economy. In a post on X, Musk stated, 'Prices are critical information without an economy cannot function.' His remarks were prompted by a discussion on social media regarding Mises' 1920 paper, which critiques socialist central planning. The discussion highlighted that without private property and market prices, resource allocation becomes unreliable. Rothmus, a proponent of rugged individualism, noted that socialist planners historically relied on capitalist market prices, indicating that pure socialism lacks effective coordination. Musk echoed Mises' warning that government interventions lead to economic instability, arguing that price controls and subsidies create distortions that can result in a fully planned economy. He concluded by referencing the historical collapse of the Soviet bloc as a practical example of these economic principles.