The Scope of Analysis in the Socialist Calculation Debate

D.W. MacKenzie

A chapter in Research in the History of Economic Thought and Methodology, 2011, pp 95-126 from Emerald Group Publishing Limited

Abstract: In the original history of the socialist calculation debate (e.g.,Bergson, 1948), Oscar Lange proved that bureaucrats can find the equivalent of equilibrium prices through trial and error. In the revised history of this debate (e.g.,Caldwell, 1997;Lavoie, 1985), Lange proposed an erroneous solution to the calculation problem. Dynamic entrepreneurial rivalry moves prices toward equilibrium. Lange and other “Market Socialists” allies thought only in terms of a static competitive market equilibrium that excludes the role entrepreneurs play in adjusting prices.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rhetzz:s0743-4154(2011)000029a010

DOI: 10.1108/S0743-4154(2011)000029A010

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