Economic Calculation in the Socialist Commonwealth
by Ludwig Von Mises
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"Economic Calculation in the Socialist Commonwealth" is a seminal work by Ludwig von Mises, first published in 1920. In this book, Mises argues that the absence of private ownership of the means of production in a socialist economy inevitably leads to a lack of rational economic calculation, which in turn results in inefficiency, waste, and ultimately the breakdown of the economic system. Mises contends that without private property and market prices determined by supply and demand, show more socialist planners lack the necessary information to allocate resources efficiently. This inability to accurately assess costs and benefits leads to misallocation and a decline in overall prosperity. show lessTags
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102 works; 19 members
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91+ Works 5,181 Members
Ludwig von Mises (1881-1973) was a preeminent philosopher and economist during the twentieth century. He shared an intellectual friendship with literary giant Ayn Rand, and his theorems and philosophies have continued to influence the careers and ideas of politicians and economists alike.
Common Knowledge
- Canonical title*
- O Cálculo Econômico sob o Socialismo
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Classifications
- Genres
- Economics, Nonfiction, General Nonfiction, Politics and Government, Business, History
- DDC/MDS
- 335 — Society, Government, and Culture Economics Socialism and related systems
- LCC
- HB97.5 .V54613 — Social sciences Economic theory. Demography Economic theory. Demography History of economics. History of economic
- BISAC
Statistics
- Members
- 80
- Popularity
- 395,182
- Reviews
- 1
- Rating
- (4.22)
- Languages
- English, Portuguese (Brazil)
- Media
- Paper, Audiobook, Ebook
- ISBNs
- 7
- ASINs
- 2
