Economic Calculation in the Socialist Commonwealth
Ludwig von Mises demonstrates why socialist economies cannot perform rational economic calculation without market prices and private property.
About This Book
This work examines the fundamental challenges of economic calculation under socialism.
It argues that without private property and market prices, rational allocation of resources becomes impossible.
The analysis highlights the informational role of prices in guiding production and consumption decisions.
The text remains a key reference in debates on economic systems and central planning.
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