Quarterly Journal of Austrian Economics

A Pre-History of Misesian Calculation: The Contribution of Adolphe Thiers

The Quarterly Journal of Austrian Economics


Volume 2, No. 4 (Winter 1999)


The particular force of Thier’s argument lies in the refutation of economic calculation under socialism not only on grounds of practicability, but of a theoretical reasoning about the role of property and thus the role of the market and prices for the allocation of goods.  Thier’s argument can be interpreted as resulting from the tradition of the natural-law school of the Physiocrats, who could themselves draw on the Catholic tradition of natural law and the discussion of the “just price.”

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