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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...
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Their subsidization of solar panel production is, believe it or not, has little or no impact on the pace of solar energy research and development. If they subsidized the production of cell phones, new faster, smaller, more reliable cell phones would still be coming out every year. The only difference...
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So this Raymond Lotta guy, of the Revolutionary Communist Party of America, is coming to my school this week to give a speech ( http://thisiscommunism.org/ ). I need some help preparing some questions/comments that will prevent anyone from buying into his nonsense. I am somewhat familiar with cost accounting...
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How complex is your economics calculations model?! If I'm recalling it correctly Mises didn't say that a planned economy wasn't able to provide for some basic needs, but that it would struggle to deal with some more complex problems of human need and resource availability. Perhaps we should...