Order Without Organizations with Aneesh Karve (WiM141)
The "What is Money?" Show
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The Problem With Economic Calculation
Mises takes a very hard line he says values are pure are purely subjective and intensive phenomenon. And so the economic calculation problem that socialist economies cannot solve is this elevation of ordinals into Cardinals. The units of the economy are denominated in prices, and there's no such thing as price right extreme form of socialism and Marxism there's no even such thing as capital. So there cannot be economic calculation without a common denominator that common denominator is money.
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