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cricket20 [7]
3 years ago
8

Explain socialism's "calculation problem".

History
2 answers:
geniusboy [140]3 years ago
8 0

Answer:

The economic calculation problem is a criticism of using 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.

irina1246 [14]3 years ago
6 0

Answer:

The economic calculation problem is a criticism of using 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.

Explanation:

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