This is the essay that overthrew the socialist paradigm in economics, and provided the foundation for modern Austrian price theory. When it first appeared in 1920, Mises was alone in challenging the socialists to explain how their pricing system would actually work in practice. Mises proved that socialism could not work because it could not distinguish more or less valuable uses of social resources, and predicted the system would end in chaos. The result of his proof was the "socialist calculation" debate. This audio book is narrated by Gennady Stolyarov II.
Latest episodes of the podcast Economic Calculation In The Socialist Commonwealth
- Economic Calculation in the Socialist Commonwealth Audiobook
- Introduction to Economic Calculation In The Socialist Commonwealth
- I. The Distribution of Consumption Goods in the Socialist Commonwealth
- II. The Nature of Economic Calculation
- III. Economic Calculation in the Socialist Commonwealth
- IV. Responsibility and Initiative in Communal Concerns
- V. The Most Recent Socialist Doctrines and the Problem of Economic Calculation
- Conclusion to Economic Calculation In The Socialist Commonwealth
- Why a Socialist Economy is "Impossible"