Vol. 10, No. 2 (YEAR)

It took seven decades, but most people now accept what Ludwig von Mises explained three quarters of a century ago, namely, that centrally directed socialistic economies cannot succeed in coordinating vast numbers of interrelated decisions, in large part because of the information problem arising from non-market forms of resource allocation (Mises 1920). No amount of input-out- put models generated on vast computers can overcome the problems of directing resources under changing conditions of wants and scar-city.

G.R. Steele Hayek’s Money Economy: The Dynamics of Competitive Equilibrium and Socio-Economic Order Adobe Acrobat 6.0 Paper Capture Plug-in

Richard H. Timberlake A Critique of Monetarist and Austrian Doctrines on the Utility and Value of Money Acrobat 3.0 Import Plug-in

Robert Batemarco GNP, PPR, and the Standard of Living Adobe Acrobat 6.0 Paper Capture Plug-in

Assistant Editor bartlett.pm Adobe Acrobat 6.0 Paper Capture Plug-in bartlett.pm

Many years after the Great Depression and World War II, controversy continues to swirl as scholars, pundits, and ordinary citizens look back at the watershed events of the 1930s and 1940s. Economists and economic historians have assessed the economy’s condition during these momentous years primarily with reference to the usual macroeconomic indicators, especially the real gross domestic product (GDP) and the rate of unemployment (U).

  Brian Snowdon, Howard Vane, and Peter Wynarczyk, A Modern Guide to Macroeconomics: An Introduction to Competing Schools of Thought, Aldershot, England: Edward Elgar, 1994. pp. 383-97.

   in Jack Birner and Rudy van Zijp, eds., Hayek, Coordination and Evolution: His Legacy in Philosophy, Politics, Economics, and the History of Ideas. London: Routledge, 1994, pp. 109-125.

  South African Journal of Economics, vol. 65, no. 4 (December), 1997, pp. 459-481. 

   South African Journal of Economics, vol. 65, no. 4 (December), 1997, pp. 459-481.