Calculation and Socialism
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
Whether political elites promote outright socialism or interventionism, they are advocating a failed economy.
While F.A. Hayek's famous 1945 essay effectively critiques the "perfect information" hypothesis, it is an inadequate explanation of the issue of economic calculation.
While F.A. Hayek's famous 1945 essay effectively critiques the "perfect information" hypothesis, it is an inadequate explanation of the issue of economic calculation.
Shoddy service, regular breakdowns, and overbudget to boot. There is a reason why government-funded projects always waste resources.
Shoddy service, regular breakdowns, and overbudget to boot. There is a reason why government-funded projects always waste resources.
Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem.
Most socialists are not misguided about how to have a prosperous economy, for that is not their goal.
Politicians promise economic miracles, but in the end they waste resources and engage in economic destruction. Newfoundland is a case study.
Most socialists are not misguided about how to have a prosperous economy, for that is not their goal.