Thursday, May 28, 2015

Economic Calculation in the Socialist Commonwealth

Ludwig von Mises wrote this seminal piece in 1920. It shows that the idea of socialism is completely incompatible with economics. It spawned three decades of debate. It remains the decisive demonstration that socialism cannot work in pratice. 


1. The Distribution of Consumption Goods in the Socialist Commonwealth

2. The Nature of Economic Calculation

3. Economic Calculation in the Socialist Commonwealth

4. Responsibility and Initiative in Communal Concerns

5. The Most Recent Socialist Doctrines and the Problem of Economic Calculation



  • Ludwig von Mises (1881-1973) taught in Vienna and New York and served as a close adviser to the Foundation for Economic Education. He is considered the leading theorist of the Austrian School of the 20th century.