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Human Action

Part Five: Social Cooperation Without a Market

Chapter XXVI. The Impossibility of Economic Calculation Under Socialism

1. The Problem
2. Past Failures to Conceive the Problem
3. Recent Suggestions for Socialist Economic Calculation
4. Trial and Error
5. Quasi-market
6. The Differential Equations of Mathematical Economics

Return to Table of Contents

Human Action

Ludwig von Mises

The masterpiece first appeared in German in 1940 and then disappeared, only to reappear in English in 1949. It was a sensation, the largest and most scientific defense...

Select from the table of contents below to read this book.

Foreword to the 4th Edition by Bettina Bien Greaves
Foreword to the 3rd Edition by Ludwig von Mises
Introduction
Part One: Human Action
Part Two: Action Within the Framework of Society
Part Three: Economic Calculation
Part Four: Catallactics or Economics of the Market Society
Part Five: Social Cooperation Without a Market
- Chapter XXV. The Imaginary Constuction of a Socialist Society
- Chapter XXVI. The Impossibility of Economic Calculation Under Socialism
Part Six: The Hampered Market Economy
Part Seven: The Place of Economics in Society

Topics

Austrian School

Austrian Economics Overview
Business Cycles
Calculation and Knowledge
Cantillon
Capital and Interest Theory
Entrepreneurship
Fiscal Theory
Gold Standard
History of the Austrian School of Economics
Interventionism
Monetary Theory
Money and Banking
Money Supply
Monopoly and Competition
Other Schools of Thought
Philosophy and Methodology
Political Theory
Praxeology
Prices
Private Property
Production Theory
Subjectivism
Value and Exchange

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