Year: 2025
Type: article
Abstract: Economic Calculation under Socialism was first published in 1920. The text demonstrated the impossibility of implementing costs under socialism. Mises argues that economic planning, as a substitute for the free market, is unfeasible, since in Socialism it is not possible to rationally calculate the true costs of production, nor to promote the natural balance between supply and demand as price regulators. These conditions of unfeasibility were reaffirmed in the Forewords by Yuri Maltsev and Jacek Kochanowicz, both from 1990, and these two authors are often linked to Mises' original text. In this respect, the 1990 Prefaces are a kind of timeless appendix to the postulates described by Mises back in the 1920s (Roaring Twenties). Since then, Economic Calculation under Socialism has been republished, a procedure identical to the one we are now carrying out in this 17th volume of AKEDIA Magazine, offering readers another opportunity to reencounter one of the great classics of contemporary social and economic thought.
Authors: Escola Austríaca, Ludwig von MISES
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409306355