What is it about?
The Socialist Calculation Debate is almost certainly one of the most important debates that have ever taken place within the field of economics and probably the most important debate in economics of the 20th century. The outcome of the debate has been subject to diverging interpretations and ongoing dispute, however. These disagreements persist to this day. This paper recalls Mises’ original result and reviews some of the subsequent debates and recent developments.
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Why is it important?
The debate goes on and on...
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This page is a summary of: Ludwig von Mises’ Argument Against the Possibility of Socialism: Early Concepts and Contemporary Relevance, January 2019, Springer Science + Business Media,
DOI: 10.1007/978-3-030-15024-2_13.
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