Abstract
The socialist calculation debate is a debate about whether rational economic decisions can be made without markets, or without markets in production goods. Though this debate has been simmering in economics for over 65 years, most philosophers have ignored it. This may be because they are unaware of the debate, or perhaps it is because they have absorbed the conventional view that one side decisively won. This is the side represented by economists such as Oskar Lange and Fred Taylor who, in opposition to free-market economists like Fredrich Hayek, allegedly showed that their version of market socialism is, in principle, as efficient as capitalism.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
