Is socialism really “impossible
Bibliographic Data
| ID | 6251985 |
|---|---|
| Authors | Bryan Caplan (corresponding author) |
| Year | 2004 |
| Volume | 16 |
| Issue | 1 |
| Pages | 33-52 |
| Publication date | 2004-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Critical Review (JOURNAL) |
| Journal identifiers | ISSN: 0891-3811 • E-ISSN: 1933-8007 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/08913810408443598 |
| OpenAlex | W2013512765 |
| Language | EN |
| Citations received | 7 |
| References cited | 12 |
In the 1920s, Austrian‐school economists began to argue that in a fully socialized economy, free of competitively generated prices, central planners would have no way to calculate which methods of production would be the most economical. They claimed that this “economic calculation problem” showed that socialism is “impossible.” Although many believe that the Austrian position was later vindicated by the collapse of the Soviet bloc, the Austrian school's own methodology disallows such a conclusion. And historical evidence suggests that poor incentives—not lack of economic calculation—were the main source of the economic defects of “really existing socialism
Austrian School · Communism · Economic system · Economics · Incentive · Market economy · Market socialism · Neoclassical economics · Political economy · Political science · Politics · Position (finance · Positive economics · Socialism · Economic Theory and Institutions · Law
| Unique citing works | 7 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2005 - 2018 (14) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 7 |