EconPapers    
Economics at your fingertips  
 

The Economic Calculation Debate: Lessons for Socialists

Fikret Adaman and Pat Devine

Cambridge Journal of Economics, 1996, vol. 20, issue 5, 523-37

Abstract: This paper summarizes the standard account of the economic calculation debate, the modern Austrian reinterpretation of the debate based on the centrality of tacit knowledge and discovery, and a neglected third strand in the historical debate, Dobb's insistence on the uncertainty associated with atomistic decision making and the need for ex ante planning. It then draws some lessons for socialists from the debate and considers a possible market socialist response to the modern Austrian challenge. The paper ends by outlining a model of participatory planning that incorporates both the modern Austrians' insight into the importance of tacit knowledge and Dobb's insistence on ex ante coordination. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.

Date: 1996
References: Add references at CitEc
Citations View citations in EconPapers (6) Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:20:y:1996:i:5:p:523-37

Ordering information: This journal article can be ordered from
http://www.oup.co.uk/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Series data maintained by Oxford University Press ().

 
Page updated 2017-11-09
Handle: RePEc:oup:cambje:v:20:y:1996:i:5:p:523-37