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Series:   Elements in Austrian Economics

The Socialist Calculation Debate

Theory, History, and Contemporary Relevance

Published online by Cambridge University Press:  29 November 2024

Peter Boettke ,
Rosolino A. Candela  and
Tegan Lindstrom Truitt
Peter Boettke
Affiliation:
George Mason University
Rosolino A. Candela
Affiliation:
George Mason University and Francisco Marroquín University
Tegan Lindstrom Truitt
Affiliation:
George Mason University

Summary

For over a generation, the collapse of communism in the Soviet Union and Eastern and Central Europe delegitimized the abolition of private property in the means of production and the practice of central planning as an effective way to achieve the ends of socialism. However, the aspiration of achieving the ends of socialism remains to this day. This Element provides a narrative of a century-long debate that was initiated by Ludwig von Mises in 1920. In so doing, it tells the history of the problem of economic calculation in the socialist commonwealth and its continuing relevance for developments in economics, political economy, and social philosophy.
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Keywords

MisesHayeksocialismcalculationplanning
Type
Element
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Series: Elements in Austrian Economics
Online ISBN: 9781009593649
Publisher: Cambridge University Press
Print publication: 19 December 2024

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The Socialist Calculation Debate
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