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Technocracy is an anticapitalistic fallacy that was popular in the depression days of the early 1930's. Technocrats sought their utopia in (1) the abolition of profits, businessmen and market principles, and (2) the establishment of a society run by industrial engineers and other technical experts in accordance with the principles of advanced technology.[1]


  1. Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-24.