Economic Calculation in the Socialist Commonwealth

Discover an influential essay that reshaped the economics of socialism. This essay challenged the socialist paradigm, proving that socialism can't distinguish between more or less valuable uses of social resources, and predicted chaos. This new edition contains a modern afterword that applies the calculation argument to contemporary problems like business regulation and environmentalism. It's a must-read for anyone interested in exploring the foundations of modern Austrian price theory, the price system, purely free markets, and sound money.