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For industry to be operated effectively, it is necessary that those in charge be able to perform “economic calculation.” It does not matter at all, for the purposes of this argument, whether “those in charge” are professional managers, acquisitive capitalists, workers’ councils or other democratically- elected assemblies, or holy men appointed by

Volume 5, Number 1 (1981) Even after the bitter defeat of War Communism, Lenin never doubted that socialism entailed the abolition of trade and money. The Soviet doctrine of “socialist commodities” did not enter the picture until the 1950’s. Compelled to preside over the encouragement of the market, Lenin continues to assert: “Exchange is freedom

This paper establishes what Hayek’s evolutionary theory is, and argues (by reference to the preconditions of Darwinian natural selection) that it is scarcely tenable. It advances a third possible way in which social institutions might develop, and contends that this third way is the mode of social evolution envisaged by Liberal social theorists