Marx and Mises: Communism and Economic Calculation

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This contribution to economic philosophy considers Marx's pronouncements on the organization of future society, and in this context re-examines the long-lasting debate triggered by Mises's argument that modern industrial production requires a system of spontaneously-formed market prices. In an undogmatic, non-technical treatment, Steele contends that both the Marxian conception of future society and the Misesian argument against its feasibility have frequently been misunderstood. The work scrutinizes the replies to Mises, ...