The Socialist Calculation Debate

Peter Boettke, Rosolino Candela, and Tegan Truitt's "The Socialist Calculation Debate" delves into the historical and theoretical arguments surrounding the feasibility of socialist economic planning.

The book examines the contributions of key figures like Ludwig von Mises and Friedrich Hayek, who argued against the possibility of rational economic calculation under socialism.

It also explores the responses from socialist economists and the evolution of the debate over time.

The authors provide a comprehensive overview of the theoretical underpinnings and historical context of the debate, highlighting its contemporary relevance in discussions about market-based versus centrally planned economies.

The book offers valuable insights into the challenges of coordinating economic activity without market prices.