The “Economic Calculation” controversy: unravelling of a myth

Inequality illustration from based on photo from Kenya

Originally published in Common Voice Issue 3 (2005).
The “economic calculation argument” (ECA) is principally linked with the Austrian economist, Ludwig von Mises, who wrote a seminal tract (“Economic Calculation in the Socialist Commonwealth”) in 1920, purporting to show that socialism was not a realisable system.

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