Economic Calculation in the Socialist Commonwealth
1920 article by Ludwig Von Mises / From Wikipedia, the free encyclopedia
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Economic Calculation in the Socialist Commonwealth is an article by Austrian School economist Ludwig von Mises. Its critique against economic calculation in a centrally planned economy triggered the decades-long economic calculation debate.[1][2]
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The article was first published 1920 in German under the title Die Wirtschaftsrechnung im sozialistischen Gemeinwesen[3] and based on a lecture Mises gave in 1919 as a response to a book by Otto Neurath, arguing for the feasibility of central planning.[3] Two years later, the essay was incorporated into Mises's book Socialism: An Economic and Sociological Analysis.