Calculation and Knowledge

Socialists never give up trying to prove that socialism can maintain a functioning economy. Some have dragged out a nearly forty year old study as their exhibit A.

Scott R. Sehon tries to be intellectually honest in his critique of capitalism and his endorsement of socialism, but David Gordon writes that Sehon needs to better know the arguments favoring capitalism.

How do we best understand economics? Per Bylund explains in the introduction to his Chinese version of his book, How to Think about the Economy: A Primer. Economic understanding is now exported to a country with more than a billion people.

While F.A. Hayek is known for his term “spontaneous order,” Mises saw institutional development as coming from growth in human understanding of things.

Thanks to government interventionism and regulation, the once-promising gig economy is foundering. It's time to let entrepreneurs be entrepreneurs.

Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur.

Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.

While F.A. Hayek is known for his term “spontaneous order,” Mises saw institutional development as coming from growth in human understanding of things.

Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes.

Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.