Economic Calculation In The Socialist Commonwealth
by Ludwig von Mises
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.
Episodes
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Why a Socialist Economy is "Impossible"
This is the Postscript to Economic Calculation in the Socialist Commonwealth (pp. 51-71) by Ludwig von Mises. Narrated by Gennady Stolyarov II.
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Introduction to Economic Calculation In The Socialist Commonwealth
Pages 1-3 in the text, as narrated by John Pruden..
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I. The Distribution of Consumption Goods in the Socialist Commonwealth
From Economic Calculation In The Socialist Commonwealth. Pages 3-10 in the text, as narrated by Gennady Stolyarov II.
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II. The Nature of Economic Calculation
From Economic Calculation In The Socialist Commonwealth. Pages 10-26 in the text, as narrated by Gennady Stolyarov II.
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III. Economic Calculation in the Socialist Commonwealth
From Economic Calculation In The Socialist Commonwealth. Pages 26-33 in the text, as narrated by Gennady Stolyarov II.
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IV. Responsibility and Initiative in Communal Concerns
From Economic Calculation In The Socialist Commonwealth. Pages 33-40 in the text, as narrated by Gennady Stolyarov II.
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V. The Most Recent Socialist Doctrines and the Problem of Economic Calculation
From Economic Calculation In The Socialist Commonwealth. Pages 40-47 in the text, as narrated by Gennady Stolyarov II.
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Conclusion to Economic Calculation In The Socialist Commonwealth
Pages 48-50 in the text, as narrated by Gennady Stolyarov II.
About this show
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.
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Ludwig von Mises