Calculation and Knowledge

The standard view of the socialist calculation debate is that Mises and Hayek at best demonstrated the  practical impossibility of socialist economy,

The problem of cost is the cornerstone of economic calculation.  Entrepreneurs act upon the cost implications of their decisions and depend on cost data that represent the actual pattern of resource consumption.

Friedrich Hayek and Ludwig von Mises demonstrated that central planners will be unable to manage an economy rationally due to the problems of dispersed knowledge and the impossibility of economic calculation

In this note I will argue that social contract theories aimed at establishing norms for personal and community life are inadequate.

The concepts of Pareto optimality and Pareto- optimal change continue appearing in academic discussions as supposed criteria of policy and keys to

To state with precision and force the economic and moral imperative of the free market has been of the utmost concern to some of civilization&#8217

This paper traces Spencer’s theory of causation through various disciplines, with special emphasis on Spencer’s “scientific&#8221

In this article, Professor Barry Smith presents a series of questions and theories in defense of apriorism.

Volume 12, Number 1 (1996)

It is not possible to examine thoroughly the question of the mathematical treatment of economic problems within the frame of a brief essay.

This paper by Antoin E. Murphy reviews Richard Cantillion’s life and works.

Volume 7, Number 2 (1985)