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WillowOne's Positions

Ludwig von Mises

Notes

Ludwig von Mises (1881–1973), Austrian economist and the central figure of the Austrian School. "Economic Calculation in the Socialist Commonwealth" (1920) set out the economic calculation problem: without market prices a planner cannot know what anything is worth and so cannot allocate rationally. The argument was dismissed at the time and vindicated by every planned economy since. His broader libertarianism I do not share, but the calculation argument stands on its own.

Wikipedia: https://en.wikipedia.org/wiki/Ludwig_von_Mises

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