The debate over socialist calculation has been twisted beyond recognition. The narrative is that Mises dealt with property, while Hayek … Read the rest
Category: Economic Calculation
Calculation or Collapse
Markets don’t function without prices. Without prices, production collapses into chaos. Prices convey the preferences, demands, and scarcities of society—without … Read the rest
The Fiction of Collective Ownership
Property is claimed by “society.” A term with no hands, no voice, no will. A ghost can’t own. The individual … Read the rest
Why Statism Is Doomed to Fail
Statism—encompassing both socialism and fascism—can’t work because it fundamentally lacks the ability to calculate. Socialism, defined as the government owning … Read the rest
From Production to Consumption
The Truth about Money
Money is necessary to determine the difference between inputs and outputs. Paper money makes that more and more difficult to … Read the rest
Barter with a Medium
Modern day exchange is barter done with a medium. This is called a money. When you buy something, you are … Read the rest
The New Idol Directing Production
The means of production are owned by “society.” Society owning property is impossible. The new idol has to direct production. … Read the rest
The Fundamental Reason Why Socialism is Impossible
It’s impossible for socialism to work because it can’t calculate. Socialism is the government owning all property. There aren’t various … Read the rest
Calculation in Statism
We calculate to arrange action. No man can determine what is to be produced or how much without calculation. It … Read the rest