“The thesis of this article is that the celebrated debate over economic calculation under socialism that raged during the interwar period was important for the history of economic thought in a sense not generally appreciated. Not only was the debate an important episode, of course, for its own sake. It was, in addition, I shall claim, important as a catalyst in the development and articulation of the modern Austrian view of the market as a competitive-entrepreneurial process of discovery.” ~ Israel Kirzner, in “The Economic Calculation Debate: Lessons For Austrians” bit.ly/1mxVmnc (pdf file) which I had the pleasure of re-reading today thanks to Robert Higgs s wonderful status post from last night. Thank you........
Posted on: Wed, 26 Feb 2014 02:04:08 +0000