The “Economic Calculation” controversy: unravelling of a myth

Inequality illustration from FightInequality.org based on photo from Kenya
Inequality illustration from FightInequality.org 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.

Submitted by jondwhite on December 3, 2017

Comments

Spikymike

3 years 8 months ago

In reply to by libcom.org

Submitted by Spikymike on June 11, 2020

A very useful addition to the libcom library. I assume D.R.Steele is the former Dave Steele, originally a member and writer for the spgb - a clever guy but someone it seems too easily distracted by the arguments against capitalism and for communism as abstract systems rather than the potential outcome of the material struggle of the working class to assert our humanity against the alienation of the rule of the commodity. (Edit: I preferred the more imaginative D.R.Steele of 1969 in his article 'Smash Cash' published in Oz magazine).
Robin Cox still writes some shorter pieces for the Socialist Standard as here most recently:
https://worldsocialism.org/spgb/socialist-standard/2020/2020s/no-1390-june-2020/economics-the-marginalist-fallacy/

ZJW

3 years 8 months ago

In reply to by libcom.org

Submitted by ZJW on June 14, 2020

That is the very Steele, Spiky. And here (rather ill-formatted) is the article from Oz you mention: https://www.worldsocialism.org/spgb/socialist-standard/2004/2000s/no-1198-june-2004/smash-cash .