Socialist Calculation Debate - Theory, History, and Contemporary Relevance

The collapse of communism in the Soviet Union and Eastern Europe delegitimized private property and central planning for socialism. However, the aspiration of achieving socialism's ends remains. This Element recounts Ludwig von Mises' century-long debate on economic calculation in the socialist commonwealth.

List of contents

1. Introduction; 2. The original debate: from Marx to mises; 3. Rebuttals and refinements: Hayek and the market socialists; 4. The end of the debate? Lavoie's challenge and the fall of communism; 5. Socialism in the 21st century; 6. Extending the argument: applications of the theory of economic calculation; 7. Conclusion; Bibliography.

Summary

The collapse of communism in the Soviet Union and Eastern Europe delegitimized private property and central planning for socialism. However, the aspiration of achieving socialism's ends remains. This Element recounts Ludwig von Mises' century-long debate on economic calculation in the socialist commonwealth.

Product details

• Authors: Peter Boettke, Peter (George Mason University) Candela Boettke, Rosolino A. Candela, Tegan Lindstrom Truitt
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 31.12.2024
• EAN: 9781009593663
• ISBN: 978-1-0-0959366-3
• No. of pages: 94
• Series: Elements in Austrian Economics
• Subjects: Social sciences, law, business > Business > Economics; machine learning, BUSINESS & ECONOMICS / Economics / General, Economic theory & philosophy, Economic systems & structures, Public finance, Public finance and taxation, Economic theory and philosophy, Planned economic systems