socialist calculation debate

E418206

The socialist calculation debate was a 20th-century economic controversy over whether a socialist planned economy could allocate resources as efficiently as a market system, centering on issues of information, prices, and economic coordination.

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Statements (131)

Predicate Object
instanceOf 20th-century economic controversy ⓘ
economic debate ⓘ
intellectual controversy ⓘ
hasAspect comparative efficiency of planning and markets ⓘ
computational feasibility of central planning ⓘ
economic calculation problem ⓘ
incentive structures under socialism ⓘ
knowledge problem ⓘ
possibility of market socialism ⓘ
role of entrepreneurship ⓘ
use of market prices as information ⓘ
hasCentralQuestion Can a socialist planned economy allocate resources as efficiently as a market economy? ⓘ
hasHistoricalPhase interwar period phase ⓘ
late 20th-century revival ⓘ
post-World War II phase ⓘ
hasImportantConcept Pareto efficiency ⓘ
central planning ⓘ
computational complexity of planning ⓘ
computers in economic planning ⓘ
cybernetic planning ⓘ
dispersed knowledge ⓘ
dynamic efficiency ⓘ
economic calculation problem ⓘ
entrepreneurial discovery ⓘ
general equilibrium theory ⓘ
incentive compatibility ⓘ
indicative planning ⓘ
knowledge problem ⓘ
market socialism ⓘ
public ownership of the means of production ⓘ
shadow prices ⓘ
state planning board ⓘ
static efficiency ⓘ
trial-and-error pricing ⓘ
hasImportantWork Collective Choice and Social Welfare ⓘ
Economic Calculation in the Socialist Commonwealth ⓘ
Individualism and Economic Order ⓘ
Markets, Planning and Democracy ⓘ
On the Economic Theory of Socialism ⓘ
Prices and Production ⓘ
Rivalry and Central Planning ⓘ
Socialist Calculation I: The Competitive Solution ⓘ
Socialist Calculation II: The Socialist Economy ⓘ
The Economic Theory of Socialism ⓘ
The Economics of Control ⓘ
The Economics of Feasible Socialism ⓘ
The Road to Serfdom ⓘ
The Use of Knowledge in Society ⓘ
hasKeyContributor Abba Lerner ⓘ
Alec Nove ⓘ
Don Lavoie ⓘ
Enrico Barone ⓘ
Fred M. Taylor ⓘ
Friedrich Hayek ⓘ
G. A. Cohen ⓘ
H. D. Dickinson ⓘ
Israel Kirzner ⓘ
Ludwig von Mises ⓘ
Maurice Dobb ⓘ
Oskar Lange ⓘ
hasLegacy contributed to skepticism about comprehensive central planning ⓘ
inspired later work in mechanism design and information economics ⓘ
remains relevant to discussions of digital planning and algorithmic coordination ⓘ
shaped modern understanding of information and incentives in economics ⓘ
hasOpposingPosition Austrian School critique of socialism ⓘ
Marxist planning advocacy ⓘ
computational socialism proposals ⓘ
market socialist response ⓘ
neoclassical general equilibrium approach to socialism ⓘ
hasProponent Abba Lerner ⓘ
Alec Nove ⓘ
Don Lavoie ⓘ
Enrico Barone ⓘ
Fred M. Taylor ⓘ
Friedrich Hayek ⓘ
G. A. Cohen ⓘ
H. D. Dickinson ⓘ
Israel Kirzner ⓘ
Ludwig von Mises ⓘ
Maurice Dobb ⓘ
Oskar Lange ⓘ
hasViewpoint central planners cannot aggregate dispersed knowledge effectively ⓘ
computers could make central planning feasible ⓘ
incentive problems undermine socialist planning ⓘ
information problems are central to economic coordination ⓘ
markets are necessary for dynamic efficiency and innovation ⓘ
planning can achieve allocative efficiency under certain assumptions ⓘ
socialist economies lack market prices for capital goods ⓘ
trial-and-error pricing can simulate market outcomes under socialism ⓘ
influencedByEvent Great Depression ⓘ
Russian Revolution ⓘ
collapse of the Soviet Union ⓘ
establishment of the Soviet Union ⓘ
post-World War II socialist planning experiments ⓘ
influencedField Austrian School of economics ⓘ
comparative economic systems ⓘ
computational economics ⓘ
economic history of socialism ⓘ
information economics ⓘ
institutional economics ⓘ
mechanism design theory ⓘ
political economy ⓘ
public choice theory ⓘ
theory of the firm ⓘ
transition economics ⓘ
welfare economics ⓘ
mainTopic economic calculation under socialism ⓘ
feasibility of socialist planned economy ⓘ
information problems in centrally planned economies ⓘ
resource allocation ⓘ
role of prices in economic coordination ⓘ
originatedWithAuthor Ludwig von Mises ⓘ
originatedWithWork Economic Calculation in the Socialist Commonwealth ⓘ
originatedWithYear 1920 ⓘ
peakActivity Cold War era ⓘ
linked to: Cold War

interwar period ⓘ
relatedTo Austrian School of economics ⓘ
Hayekian knowledge problem ⓘ
Marxian economics ⓘ
Soviet-type economic planning ⓘ
central planning ⓘ
computational planning models ⓘ
cybernetic socialism ⓘ
economic systems comparison ⓘ
general equilibrium theory ⓘ
market socialism ⓘ
mechanism design and implementation theory ⓘ
neoclassical economics ⓘ
transition from socialism to capitalism ⓘ
startTime 1920s ⓘ
timePeriod 20th century ⓘ

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Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

The Use of Knowledge in Society → relatedTo → socialist calculation debate ⓘ
socialist calculation debate → originatedWithWork → Economic Calculation in the Socialist Commonwealth ⓘ
linked to: socialist calculation debate
socialist calculation debate → hasImportantWork → Economic Calculation in the Socialist Commonwealth ⓘ
linked to: socialist calculation debate
socialist calculation debate → hasImportantWork → Socialist Calculation I: The Competitive Solution ⓘ
linked to: socialist calculation debate