Matches in DBpedia 2015-10 for { <http://dbpedia.org/resource/Economic_calculation_problem> ?p ?o }
- Economic_calculation_problem abstract "The economic calculation problem is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek. In his first article, Mises describes the nature of the price system under capitalism and describes how individual subjective values are translated into the objective information necessary for rational allocation of resources in society.In market exchanges, prices reflect the supply and demand of resources, labor and products. In his first article, Mises focused his criticism on the inevitable deficiencies of the socialisation of capital goods, but Mises later went on to elaborate on various different forms of socialism in his book, Socialism. Mises and Hayek argued that economic calculation is only possible by information provided through market prices, and that bureaucratic or technocratic methods of allocation lack methods to rationally allocate resources. The debate raged in the 1920s and 1930s, and that specific period of the debate has come to be known by economic historians as The Socialist Calculation Debate. Mises' initial criticism received multiple reactions and led to the conception of trial-and-error market socialism, most notably the Lange–Lerner theorem.Mises argued in "Economic Calculation in the Socialist Commonwealth" that the pricing systems in socialist economies were necessarily deficient because if a public entity owned all the means of production, no rational prices could be obtained for capital goods as they were merely internal transfers of goods and not "objects of exchange," unlike final goods. Therefore, they were unpriced and hence the system would be necessarily irrational, as the central planners would not know how to allocate the available resources efficiently. He wrote that "rational economic activity is impossible in a socialist commonwealth." Mises developed his critique of socialism more completely in his 1922 book Socialism: An Economic and Sociological Analysis, arguing that the market price system is an expression of praxeology and can not be replicated by any form of bureaucracy.However, it is important to note that central planning has been criticized by socialists who advocated decentralized mechanisms of economic coordination, including mutualist Pierre-Joseph Proudhon, Marxist Leon Trotsky and anarcho- communist Peter Kropotkin before the Austrian school critique. Central planning was later criticized by socialist economists such as Janos Kornai and Alec Nove. Robin Cox has argued that the economic calculation argument can only be successfully rebutted on the assumption that a moneyless socialist economy was to a large extent spontaneously ordered via a self-regulating system of stock control which would enable decision-makers to allocate production goods on the basis of their relative scarcity using calculation in kind. This was only feasible in an economy where most decisions were decentralised. Trotsky argued that central planners would not be able to respond effectively to local changes in the economy because they operate without meaningful input and participation by the millions of economic actors in the economy, and would therefore be an ineffective mechanism for coordinating economic activity.".
- Economic_calculation_problem wikiPageExternalLink calculation_debate.pdf.
- Economic_calculation_problem wikiPageExternalLink CommonVoice3.pdf.
- Economic_calculation_problem wikiPageExternalLink mackenzie10.pdf.
- Economic_calculation_problem wikiPageID "9297".
- Economic_calculation_problem wikiPageLength "37024".
- Economic_calculation_problem wikiPageOutDegree "106".
- Economic_calculation_problem wikiPageRevisionID "683485952".
- Economic_calculation_problem wikiPageWikiLink Abba_Lerner.
- Economic_calculation_problem wikiPageWikiLink Abba_P._Lerner.
- Economic_calculation_problem wikiPageWikiLink Abundance_(economics).
- Economic_calculation_problem wikiPageWikiLink Alec_Nove.
- Economic_calculation_problem wikiPageWikiLink Alexander_Nove.
- Economic_calculation_problem wikiPageWikiLink Alfred_Marshall.
- Economic_calculation_problem wikiPageWikiLink Anarchist_communism.
- Economic_calculation_problem wikiPageWikiLink Anarcho-communism.
- Economic_calculation_problem wikiPageWikiLink Austrian_School.
- Economic_calculation_problem wikiPageWikiLink Austrian_school.
- Economic_calculation_problem wikiPageWikiLink Bryan_Caplan.
- Economic_calculation_problem wikiPageWikiLink Bureaucracy_(book).
- Economic_calculation_problem wikiPageWikiLink Calculation_in_kind.
- Economic_calculation_problem wikiPageWikiLink Capital_good.
- Economic_calculation_problem wikiPageWikiLink Capital_goods.
- Economic_calculation_problem wikiPageWikiLink Capitalism.
- Economic_calculation_problem wikiPageWikiLink Carl_Menger.
- Economic_calculation_problem wikiPageWikiLink Category:Austrian_School.
- Economic_calculation_problem wikiPageWikiLink Category:Comparative_economic_systems.
- Economic_calculation_problem wikiPageWikiLink Category:Criticisms_of_economics.
- Economic_calculation_problem wikiPageWikiLink Category:Economic_planning.
- Economic_calculation_problem wikiPageWikiLink Category:Economic_problems.
- Economic_calculation_problem wikiPageWikiLink Category:Economic_theories.
- Economic_calculation_problem wikiPageWikiLink Category:History_of_economic_thought.
- Economic_calculation_problem wikiPageWikiLink Category:Socialism.
- Economic_calculation_problem wikiPageWikiLink Chaos_theory.
- Economic_calculation_problem wikiPageWikiLink Commonwealth.
- Economic_calculation_problem wikiPageWikiLink Competition_(economics).
- Economic_calculation_problem wikiPageWikiLink Computer.
- Economic_calculation_problem wikiPageWikiLink Computers.
- Economic_calculation_problem wikiPageWikiLink Consumer_welfare.
- Economic_calculation_problem wikiPageWikiLink Currency.
- Economic_calculation_problem wikiPageWikiLink Decentralized_planning_(economics).
- Economic_calculation_problem wikiPageWikiLink Dispersed_knowledge.
- Economic_calculation_problem wikiPageWikiLink Economic_Calculation_in_the_Socialist_Commonwealth.
- Economic_calculation_problem wikiPageWikiLink Economic_history.
- Economic_calculation_problem wikiPageWikiLink Economic_planning.
- Economic_calculation_problem wikiPageWikiLink Enrico_Barone.
- Economic_calculation_problem wikiPageWikiLink Entrepreneurship.
- Economic_calculation_problem wikiPageWikiLink Factors_of_production.
- Economic_calculation_problem wikiPageWikiLink Financial_market.
- Economic_calculation_problem wikiPageWikiLink Free_trade.
- Economic_calculation_problem wikiPageWikiLink Friedrich_Hayek.
- Economic_calculation_problem wikiPageWikiLink Friedrich_von_Hayek.
- Economic_calculation_problem wikiPageWikiLink Futures_exchange.
- Economic_calculation_problem wikiPageWikiLink Futures_markets.
- Economic_calculation_problem wikiPageWikiLink Human_Action.
- Economic_calculation_problem wikiPageWikiLink Incentive.
- Economic_calculation_problem wikiPageWikiLink Janos_Kornai.
- Economic_calculation_problem wikiPageWikiLink Joan_Robinson.
- Economic_calculation_problem wikiPageWikiLink Joseph_Schumpeter.
- Economic_calculation_problem wikiPageWikiLink János_Kornai.
- Economic_calculation_problem wikiPageWikiLink Knowledge_economics.
- Economic_calculation_problem wikiPageWikiLink Knowledge_economy.
- Economic_calculation_problem wikiPageWikiLink Labor_theory_of_value.
- Economic_calculation_problem wikiPageWikiLink Labour_economics.
- Economic_calculation_problem wikiPageWikiLink Labour_theory_of_value.
- Economic_calculation_problem wikiPageWikiLink Lange_Model.
- Economic_calculation_problem wikiPageWikiLink Lange_model.
- Economic_calculation_problem wikiPageWikiLink Lange–Lerner_theorem.
- Economic_calculation_problem wikiPageWikiLink Leon_Trotsky.
- Economic_calculation_problem wikiPageWikiLink Local_knowledge_problem.
- Economic_calculation_problem wikiPageWikiLink Ludwig_von_Mises.
- Economic_calculation_problem wikiPageWikiLink Marginal_utility.
- Economic_calculation_problem wikiPageWikiLink Marginal_utility_theory.
- Economic_calculation_problem wikiPageWikiLink Market_(economics).
- Economic_calculation_problem wikiPageWikiLink Market_competition.
- Economic_calculation_problem wikiPageWikiLink Market_socialism.
- Economic_calculation_problem wikiPageWikiLink Marxism.
- Economic_calculation_problem wikiPageWikiLink Means_of_exchange.
- Economic_calculation_problem wikiPageWikiLink Means_of_production.
- Economic_calculation_problem wikiPageWikiLink Milton_Friedman.
- Economic_calculation_problem wikiPageWikiLink Money.
- Economic_calculation_problem wikiPageWikiLink Mutualism_(economic_theory).
- Economic_calculation_problem wikiPageWikiLink New_Economic_Policy.
- Economic_calculation_problem wikiPageWikiLink Omnipotent_Government.
- Economic_calculation_problem wikiPageWikiLink Opportunity_cost.
- Economic_calculation_problem wikiPageWikiLink Oskar_Lange.
- Economic_calculation_problem wikiPageWikiLink Oskar_R._Lange.
- Economic_calculation_problem wikiPageWikiLink Otto_Neurath.
- Economic_calculation_problem wikiPageWikiLink Paul_Cockshott.
- Economic_calculation_problem wikiPageWikiLink Peter_Kropotkin.
- Economic_calculation_problem wikiPageWikiLink Pierre-Joseph_Proudhon.
- Economic_calculation_problem wikiPageWikiLink Post-scarcity_economy.
- Economic_calculation_problem wikiPageWikiLink Post_scarcity.
- Economic_calculation_problem wikiPageWikiLink Praxeology.
- Economic_calculation_problem wikiPageWikiLink Price.
- Economic_calculation_problem wikiPageWikiLink Price_signal.
- Economic_calculation_problem wikiPageWikiLink Production_for_use.
- Economic_calculation_problem wikiPageWikiLink Profit_motive.
- Economic_calculation_problem wikiPageWikiLink Rational_choice_theory.
- Economic_calculation_problem wikiPageWikiLink Rationing.