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Economics, Methodology and Praxiology

Vol. 3 No. 2 (2015)

Socialist Calculation I:: The Nature and History of the Problem

  • Friedrich August von Hayek
DOI
https://doi.org/10.30800/mises.2015.v3.773
Submitted
June 22, 2018
Published
2015-12-01

Abstract

In this article, the author adresses, under a historical and analytical perspective, the main constitutive elements and the evolution of the discussions regarding the problem of the economic calculation in a socialist community. After a careful conceptual clarification, the author proceeds to present the main Austrian argument that rational economic calculation is possible only in a situation in which the price system, for all economics goods and factors of production, works in an environment of free competition.

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