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Covid-19 and the Socialist Calculation Problem

Audio Mises Wire

Tags Value and Exchange

01/16/2021Patrick Barron

Just as central planners cannot know how individuals will value a product or service, so too are central planners unable to calculate or plan for the endless array of risk assessments made by potential victims of covid-19.

Original Article: "Covid-19 and the Socialist Calculation Problem"

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Contact Patrick Barron

Patrick Barron is a private consultant to the banking industry. He has taught an introductory course in Austrian economics for several years at the University of Iowa. He has also taught at the Graduate School of Banking at the University of Wisconsin for over twenty-five years, and has delivered many presentations at the European Parliament.