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Alright, I'm trying to wrap my head around the problem with socialist calculation. From what I can tell, it's that without prices for the factors of production, you will not be able to tell if you are transforming resources into a more desirable state since you will not know if you're making...
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Greetings, So I'm having a debate with one of my friends vis-a-vis the subject of a planned economy. He asserts a centrally-planned economy, such as a communist/socialist one is superior to a "evil, depraved free-market system." I naturally disagree and we have been arguing this for some...