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Economic Calculation In The Socialist Commonwealth
''Economic Calculation in the Socialist Commonwealth'' is an article by Austrian School economist Ludwig von Mises. Its critique against economic calculation in a planned economy triggered the decades-long economic calculation debate. The article was first published 1920 in German under the title ''Die Wirtschaftsrechnung im sozialistischen Gemeinwesen'' and based on a lecture Mises gave in 1919 as a response to a book by Otto Neurath, arguing for the feasibility of central planning. Two years later, the essay was incorporated into Mises's book '' Socialism: An Economic and Sociological Analysis''. The Mises Institute has free online copy available with audiobook, PDF and HTML variants. Synopsis Mises laid out that economic calculation requires 2 fundamental things # A medium of exchange (i.e money) # Markets According to Mises, although it is possible to perform economic calculation in a proficient manner without these two requirements present, very few circumstances exi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Calculation In The Socialist Commonwealth 1990 Edition Cover
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Mechanism
In economics, a price mechanism is the manner in which the profits of goods or services affects the supply and demand of goods and services, principally by the price elasticity of demand. A price mechanism affects both buyer and seller who negotiate prices. A price mechanism, part of a market system, comprises various ways to match up buyers and sellers. The price mechanism is an economic model where price plays a key role in directing the activities of producers, consumers, and resource suppliers. An example of a price mechanism uses announced bid and ask prices. Generally speaking, when two parties wish to engage in trade, the purchaser will announce a price he is willing to pay (the bid price) and the seller will announce a price he is willing to accept (the ask price). The primary advantage of such a method is that conditions are laid out in advance and transactions can proceed with no further permission or authorization from any participant. When any bid and ask pair are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian School Publications
Austrian may refer to: * Austrians, someone from Austria or of Austrian descent ** Someone who is considered an Austrian citizen, see Austrian nationality law * Austrian German dialect * Something associated with the country Austria, for example: ** Austria-Hungary ** Austrian Airlines (AUA) ** Austrian cuisine ** Austrian Empire ** Austrian monarchy ** Austrian German (language/dialects) ** Austrian literature ** Austrian nationality law ** Austrian Service Abroad ** Music of Austria **Austrian School of Economics * Economists of the Austrian school of economic thought * The Austrian Attack variation of the Pirc Defence chess opening. See also * * * Austria (other) * Australian (other) Australian(s) may refer to: Australia * Australia, a country * Australians, citizens of the Commonwealth of Australia ** European Australians ** Anglo-Celtic Australians, Australians descended principally from British colonists ** Aboriginal Au ... * L'Autrichienne (di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1920 Documents
Nineteen or 19 may refer to: * 19 (number), the natural number following 18 and preceding 20 * one of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (film), a 1987 science fiction film Music * 19 (band), a Japanese pop music duo Albums * ''19'' (Adele album), 2008 * ''19'', a 2003 album by Alsou * ''19'', a 2006 album by Evan Yo * ''19'', a 2018 album by MHD * ''19'', one half of the double album '' 63/19'' by Kool A.D. * '' Number Nineteen'', a 1971 album by American jazz pianist Mal Waldron * ''XIX'' (EP), a 2019 EP by 1the9 Songs * "19" (song), a 1985 song by British musician Paul Hardcastle. * "Nineteen", a song by Bad4Good from the 1992 album ''Refugee'' * "Nineteen", a song by Karma to Burn from the 2001 album ''Almost Heathen''. * "Nineteen" (song), a 2007 song by American singer Billy Ray Cyrus. * "Nineteen", a song by Tegan and Sara from the 2007 album '' The Con''. * "XIX" (song), a 2014 song by Slipkn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Criticism Of Socialism
Criticism of socialism (also known as anti-socialism) is any critique of socialist models of economic organization and their feasibility as well as the political and social implications of adopting such a system. Some critiques are not directed toward socialism as a system, but rather toward the socialist movement, parties or existing states. Some critics consider socialism to be a purely theoretical concept that should be criticized on theoretical grounds (such as in the economic calculation problem and the socialist calculation debate) while others hold that certain historical examples exist and that they can be criticized on practical grounds. Because there are many models of socialism, most critiques are focused on a specific type of socialism and the experience of Soviet-type economies that may not apply to all forms of socialism as different models of socialism conflict with each other over questions of property ownership, economic coordination and how socialism is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Americans
Americans are the citizens and nationals of the United States of America.; ; Although direct citizens and nationals make up the majority of Americans, many dual citizens, expatriates, and permanent residents could also legally claim American nationality. The United States is home to people of many racial and ethnic origins; consequently, American culture and law do not equate nationality with race or ethnicity, but with citizenship and an oath of permanent allegiance. Overview The majority of Americans or their ancestors immigrated to the United States or are descended from people who were brought as slaves within the past five centuries, with the exception of the Native American population and people from Hawaii, Puerto Rico, Guam, and the Philippine Islands, who became American through expansion of the country in the 19th century, additionally America expanded into American Samoa, the U.S. Virgin Islands and Northern Mariana Islands in the 20th century. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph T
Joseph is a common male given name, derived from the Hebrew Yosef (יוֹסֵף). "Joseph" is used, along with "Josef", mostly in English, French and partially German languages. This spelling is also found as a variant in the languages of the modern-day Nordic countries. In Portuguese and Spanish, the name is "José". In Arabic, including in the Quran, the name is spelled '' Yūsuf''. In Persian, the name is "Yousef". The name has enjoyed significant popularity in its many forms in numerous countries, and ''Joseph'' was one of the two names, along with ''Robert'', to have remained in the top 10 boys' names list in the US from 1925 to 1972. It is especially common in contemporary Israel, as either "Yossi" or "Yossef", and in Italy, where the name "Giuseppe" was the most common male name in the 20th century. In the first century CE, Joseph was the second most popular male name for Palestine Jews. In the Book of Genesis Joseph is Jacob's eleventh son and Rachel's first son, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Magnum Opus
A masterpiece, ''magnum opus'' (), or ''chef-d’œuvre'' (; ; ) in modern use is a creation that has been given much critical praise, especially one that is considered the greatest work of a person's career or a work of outstanding creativity, skill, profundity, or workmanship. Historically, a "masterpiece" was a work of a very high standard produced to obtain membership of a guild or academy in various areas of the visual arts and crafts. Etymology The form ''masterstik'' is recorded in English or Scots in a set of Aberdeen guild regulations dated to 1579, whereas "masterpiece" is first found in 1605, already outside a guild context, in a Ben Jonson play. "Masterprize" was another early variant in English. In English, the term rapidly became used in a variety of contexts for an exceptionally good piece of creative work, and was "in early use, often applied to man as the 'masterpiece' of God or Nature". History Originally, the term ''masterpiece'' referred to a piece of w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
A Treatise On Economics
A, or a, is the first letter and the first vowel letter of the Latin alphabet, used in the modern English alphabet, and others worldwide. Its name in English is '' a'' (pronounced ), plural ''aes''. It is similar in shape to the Ancient Greek letter alpha, from which it derives. The uppercase version consists of the two slanting sides of a triangle, crossed in the middle by a horizontal bar. The lowercase version is often written in one of two forms: the double-storey and single-storey . The latter is commonly used in handwriting and fonts based on it, especially fonts intended to be read by children, and is also found in italic type. In English, '' a'' is the indefinite article, with the alternative form ''an''. Name In English, the name of the letter is the ''long A'' sound, pronounced . Its name in most other languages matches the letter's pronunciation in open syllables. History The earliest known ancestor of A is ''aleph''—the first letter of the Phoenician ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialism
Socialism is a left-wing economic philosophy and movement encompassing a range of economic systems characterized by the dominance of social ownership of the means of production as opposed to private ownership. As a term, it describes the economic, political and social theories and movements associated with the implementation of such systems. Social ownership can be state/public, community, collective, cooperative, or employee. While no single definition encapsulates the many types of socialism, social ownership is the one common element. Different types of socialism vary based on the role of markets and planning in resource allocation, on the structure of management in organizations, and from below or from above approaches, with some socialists favouring a party, state, or technocratic-driven approach. Socialists disagree on whether government, particularly existing government, is the correct vehicle for change. Socialist systems are divided into non-market and mark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empirical Evidence
Empirical evidence for a proposition is evidence, i.e. what supports or counters this proposition, that is constituted by or accessible to sense experience or experimental procedure. Empirical evidence is of central importance to the sciences and plays a role in various other fields, like epistemology and law. There is no general agreement on how the terms ''evidence'' and ''empirical'' are to be defined. Often different fields work with quite different conceptions. In epistemology, evidence is what justifies beliefs or what determines whether holding a certain belief is rational. This is only possible if the evidence is possessed by the person, which has prompted various epistemologists to conceive evidence as private mental states like experiences or other beliefs. In philosophy of science, on the other hand, evidence is understood as that which '' confirms'' or ''disconfirms'' scientific hypotheses and arbitrates between competing theories. For this role, it is impor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialist Calculation Debate
The socialist calculation debate, sometimes known as the economic calculation debate, was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for capital goods and private ownership of the means of production. More specifically, the debate was centered on the application of economic planning for the allocation of the means of production as a substitute for capital markets and whether or not such an arrangement would be superior to capitalism in terms of efficiency and productivity. The historical debate was cast between the Austrian School represented by Ludwig von Mises and Friedrich Hayek, who argued against the feasibility of socialism; and between neoclassical and Marxian economists, most notably Cläre Tisch (as a forerunner), Oskar R. Lange, Abba P. Lerner, Fred M. Taylor, Henry Douglas Dickinson and Maurice Dobb, who took the position that socialism was both feasible a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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