Calculation and Knowledge
Displaying 521 - 530 of 692
8. The Debate on the Socialist Calculation Debate
The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were transformed into objective prices which could be used as meaningful cardinal numbers in economic calculation.
On Austrian Value Theory and Economic Calculation
Mahoney argues that although Mises correctly conceived of value as an ordinal relation, precluding the possibility of value imputation, in many of his expositions of the market process he adopts a notion of value as a cardinal thing in explaining the task confronting actors in either the planned or unplanned economy.
What Are You Calling Failure?
A common rejoinder to the program of laissez-faire is that market failures require government intervention. Just what does market failure mean, asks Gil Guilory.
Eliminating Grocery Shortages
In my seminar on spontaneous order, the topic today was road design.
The Outlook for the World Economy
Recorded at the Austrian Economics and Financial Markets conference at The Venetian Hotel Resort Casino, Las Vegas, 02-19-2005
The Fallacies of Underconsumptionism
It is an error to believe that prosperity correlates directly and positively with consumption spending, writes Vlad Menshikov.
Lacunae in Subjective Value Theory?
No, I’m not linking to somebody’s silly article on this topic, so that we can all make fun of him.
When Does Economic Calculation Become Necessary?
Many people have said that the collapse of the Soviet Union proved that Mises was correct. New research into the origins of writing, writes Gene Callahan, provides clues that allows us to formulate Mises's argument concerning calculation more precisely.
