Socialist Calculation I:

The Nature and History of the Problem

  • Friedrich August von Hayek
Keywords: Economic theory, History of economic thought, The socialist calculation problem, Price system, Free competition


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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How to Cite
Hayek FA von. Socialist Calculation I:: The Nature and History of the Problem. MisesJournal [Internet]. 2015Dec.1 [cited 2021Mar.2];3(2):367-85. Available from:
Economics, Methodology and Praxiology