Economic Calculation in the Socialist Commonwealth
Economic Calculation in the Socialist Commonwealth is the essay that overthrew the socialist paradigm in economics and provided the foundation for modern Austrian price theory. It provides the rationale for the price system, purely free markets, the security of private property against all encroachments, and sound money. This book will continue to be relevant as long as economists and policymakers want to understand why even minor government economic interventions consistently fail to achieve socially beneficial results.
Praise for Economic Calculation in the Socialist Commonwealth
"Economic Calculation in the Socialist Commonwealth surely ranks among the most important economic articles written this century."
— Joseph T. Salerno, from the afterword