Economic Calculation in the Socialist Commonwealth
"Economic Calculation In The Socialist Commonwealth" is an article by Austrian School economist Ludwig von Mises. Its critique against economic calculation in a planned economy triggered the decades-long economic calculation debate.
The article was first published 1920 in German under the title "Die Wirtschaftsrechnung im sozialistischen Gemeinwesen". It is based on a lecture Mises gave in 1919 as a response to a book by Otto Neurath arguing for the feasibility of central planning. Mises argued that no prices for capital goods could be obtained in a socialist economy if the government owned the means of production, since all exchanges would merely be internal transfers rather than "objects of exchange", setting the price mechanism out of order.
- Hacohen, Malachi Haim (2002), Karl Popper: the formative years, 1902-1945 : politics and philosophy in interwar Vienna (reprint ed.), Cambridge University Press, p. 477, ISBN 978-0-521-89055-7
- "Economic Calculation in the Socialist Commonwealth by Ludwig von Mises". Ludwig von Mises Institute. Retrieved 27 April 2010.
- Huerta de Soto, Jesús (2010), Socialism, Economic Calculation and Entrepreneurship, Edward Elgar Publishing, pp. 103–104, ISBN 978-1-84980-065-5