Calculation and Knowledge

This paper has attempted to bridge unresolved differences remaining from the Hayek and Mises “controversy,” which materialized in the early 1990s.

The article is a much needed and long overdue acknowledgement and appreciation of Rothbard’s contributions to the theory, including the calculation debate, and practice of socialism.

Tolerably efficient coordination of human effort is impossible without trade in productive assets (capital markets).  There is no demonstrated, superior alternative to Wall Street and the price system. 

In a recent article Robert P. Murphy (2006) uses Cantor's diagonal argument to prove that market socialism could not function, since it would be impossible for the Central Planning Board 

In light of the argument presented in the present paper, it is difficult to avoid the speculation that the main argument that Hayek either half accepted or regarded as exaggerated and one-sided

The Eastern European countries have been going through a transition phase since the liberalization of their economies with the collapse of communist regimes in the early 1990s.

The Progressive Era and the eighteen-nineties immediately preceding it have probably been the foci of more superior scholarship than any other peri

Ludwig von Mises criticized the ‘old liberals’ for assuming the stance of a ‘perfect king’ whose only objective is to make his citizens happy.

Adam Smith’s “invisible hand” sometimes works in such marvelously subtle ways that it remains nearly invisible even to economists

The interest of scholars in the application of mathematics to the social sciences is particularly lively at the present time.