Pages

 

Hayek and Socialist Calculation

0 comments
Gabrial Mihalache says that the Socialist Calculation debate is "a sort of Capital Controversies in reverse, on the Left-Right spectrum." I don't know what this is supposed to mean. Perhaps it is a sociological claim that the side presented as winning in the hegemonic discourse, for the next couple of decades, actually lost at the time, I'd like to say, by any rational standard. The caveat is there because Michael Greinecker is much less enthusiastic about Hayek's position on this particular topic. (I've noticed before that Michael and I have divergent views on Hayek, but I do not want to do the work to clarify my position with respect to his.)

One study of this debate I like is David Ramsay Steele's From Marx to Mises: Post-Capitalist Society and the Challenge of Economic Calculation (Open Court, 1992). Steele is clear, I think, that he is only addressing a very small part of Marx's output. And that Mises and Hayek were only attacking complete central planning. Work would need to be done to use their position to attack mixed economies, as in western Europe.

0 comments:

Post a Comment

 
Review topics and articles of economics © 2011 Hayek and Socialist Calculation