Calculation and Knowledge

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

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.

Dr. Tate Fegley talks about his lectures from Mises University on policing, AI, and the deep state, and the important topic of economic calculation that connects the three.

Experienced entrepreneurs are Austrians.

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.

Recorded at the Mises Institute on 27 July 2023.

Game theory done the wrong way eliminates individual choice.

“Our civilization is inseparably linked with our methods of economic calculation."

In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.

Whether political elites promote outright socialism or interventionism, they are advocating a failed economy.