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economic calculation
Socialism and central banking
As Mises demonstrated in his brilliant essay " Die Wirtshaftsrechnung im sozialistischen Gemeimwesen " ( Economic Calculation in the Socialist Commonwealth ), the crucial failing of socialism is the absence of any pricing mechanism with regard to producer goods (which are owned by the state...
Posted to
Money Memes
by
jimmy
on Tue, Oct 7 2008
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Filed under:
Socialism
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central banking
,
economic calculation
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