Economic Calculation in the Socialist Commonwealth
Nonfiction | Book | Adult | Published in 1990
74
Book • Nonfiction
•
Business & Economics•
Politics & Government1990
Adult
18+ years
In Economic Calculation in the Socialist Commonwealth, Ludwig von Mises addresses the challenges faced by socialist economies in conducting rational economic planning. He argues that the absence of price mechanisms, due to not having private ownership of the means of production, impairs effective resource allocation and hinders the ability of individuals to make well-informed economic decisions.
Informative
Challenging
Contemplative
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Economic Calculation in the Socialist Commonwealth by Ludwig von Mises is often praised for its incisive critique of socialist economies, arguing that they lack the necessary price mechanisms for efficient economic planning. Critics, however, highlight its heavy reliance on theoretical assumptions and limited practical examples. The work remains influential in discussions on economic systems.
A reader interested in Economic Calculation in the Socialist Commonwealth is likely a student of Austrian economics, fascinated by critiques of socialism, or a fan of Friedrich Hayek’s The Road to Serfdom. They enjoy theoretical and historical analyses of economic systems and are intrigued by the challenges of central planning.
634 ratings
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Mixed feelings
Not a fan
74
Book • Nonfiction
•
Business & Economics•
Politics & Government1990
Adult
18+ years
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