Economic calculation problem
id:
economic-calculation-problem-176-2701887
title:
Economic calculation problem
text:
The economic calculation problem is a criticism of using central economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek. In his first article, Mises described the nature of the price system under capitalism and described how individual subjective values are translated into the objective information neces
brand slug:
wiki
category slug:
encyclopedia
description:
Critique of planned economies
original url:
https://en.wikipedia.org/wiki/Economic_calculation_problem
date created:
2001-03-30T21:52:00Z
date modified:
2024-09-03T18:51:55Z
main entity:
{"identifier":"Q1629575","url":"https://www.wikidata.org/entity/Q1629575"}
image:
fields total:
13
integrity:
15