Is socialism really “impossible

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

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  Open Access•William R Keech, Michael C Munger•Public Choice•2015

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• Incentives vs. knowledge

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• Still impossible after all these years

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• Calculation and chaos

  David Gordon•Critical Review•2005

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• Ignorance as a Starting Point

  Jeffrey Friedman•Critical Review•2007

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• Toward a new consensus on the economics of socialism

  Bryan Caplan•Critical Review•2005

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• Tensions Between Theory and History in Von Mises's Critique of Socialism

  Open Access•Emmanoel De Oliveira Boff, Emmanoel Boff•Revista de Economia Contemporânea•2018

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• Russia under the Bolshevik regime

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• Collectivist economic planning

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• Gulag

  Anne Applebaum•Gulag•2004

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• On the economic theory of socialism

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• Human action

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• From Marx to Mises

  Open Access•Evan Kraft•Comparative Economic Studies•1993

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• The Political Economy of Soviet Socialism

  Open Access•Peter J Boettke•Political Economy of Soviet…•1990

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• The Harvest of Sorrow

  John C Campbell, Robert Conquest et al.•Foreign Affairs•1987

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• Rivalry and Central Planning

  John Aldrich, John H Aldrich et al.•Economica•1987

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• Mises and hayek dehomogenized

  Open Access•Joe Salerno, Joseph T Salerno•The Review of Austrian Economics•1993

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• European Socialism

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