Covid-19 and the Socialist Calculation Problem

Tags: Value and Exchange

01/16/2021 Patrick Barron

Just as central planners cannot know how individuals will value a product or service, so too are central planners unable to calculate or plan for the endless array of risk assessments made by potential victims of covid-19.

Original Article: “Covid-19 and the Socialist Calculation Problem“

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.