Economic Calculation In The Socialist Commonwealth Vol 2
Book details
- Title
- Economic Calculation In The Socialist Commonwealth Vol 2
- Publication year listed
- 1920
- Format
- Public domain eBook
- Reading access
- Free online reader; no registration required
- Source record
- View on Archive.org
About this book
Economic Calculation In The Socialist Commonwealth Vol 2
Author: Ludwig von Mises
Year: 1920
In this essay, “Economic Calculation in the Socialist Commonwealth,” Mises examines Marxism’s most fundamental claims. In doing so, Mises exposes socialism as a utopian scheme that is illogical, uneconomic, and unworkable at its core. It is “impossible” and must fail because it is devoid of economic rationale; it provides no means for any objective basis of economic calculation and thus no way to assign resources to their most productive uses. In 1920, however the enthusiasm for socialism was so strong, especially among Western intellectuals, that Mises’s short and insightful masterpiece was either not understood or deliberately distorted by his critics.