Abstract
: The author describes a classroom exercise that introduces the Socialist Calculation Debate (SCD) to undergraduate economics students. The SCD concerns an issue that remains one of the most consequential of the 20th century— the belief in the superiority of socialism and central planning over capitalism and the free market. The exercise presents the SCD in an active learning atmosphere by requiring the students to read, interpret, and discuss the writings of three notable participants in the debate—Ludwig von Mises, Oskar Lange, and Friedrich Hayek. He discusses the format and objectives of the exercise, required and optional readings, and current relevance of the SCD.
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