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About The Management Problem of Socialism: Cost at The Expense of Value
The document summarizes the debate around Ludwig von Mises' argument that economic calculation is impossible in a socialist economy. It argues that critics of Mises, like Andy Denis, make the mistake of focusing on cost rather than entrepreneurship and value creation. The document asserts that in a market economy, entrepreneurship treats cost as secondary to creating new value, while in a planned economy cost must be the primary variable. It maintains that private property is not necessary for prices according to Mises' argument, but that entrepreneurship is necessary to drive market processes rather than centralized management.
Detailed Information
| Author: | ['Bogdan Tudor'] |
|---|---|
| Publication Year: | 2019 |
| Pages: | 28 |
| Language: | English |
| Format: | |
| Price: | FREE |
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