Hayek & The Socialist Calculation Debate

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The Socialist Calculation Debate, also known as the Planning Debates, emerged at the end of the 19th Century. Many schools of thought (socialism, Marxism, laissez-faire) argued that free markets had failed and that a government with control over the means of production and distribution could allocate goods in a more efficient manner.

Our civilization is inseparably linked with our methods of economic calculation.It would perish if we were to abandon this most precious intellectual tool of action "To follow socialist morality would destroy much of the present humankind and impoverish the rest" (Hayek, 1988)



Hayek & The Socialist Calculation Debate || Friedrich A. Hayek || Ludwig Von Mises || What is Socialist Calculation Debate? || Critiques of the Socialist Calculation Debate || Advocates for the Socialist Calculation Debate || Knowledge Problem || Conclusion Questions to Ask