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Ludwig von Mises’ Argument Against the Possibility of Socialism: Early Concepts and Contemporary Relevance

In: The First Socialization Debate (1918) and Early Efforts Towards Socialization

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  • Ludwig Van Den Hauwe

Abstract

Disagreements regarding the Socialist Calculation Debate (SCD) persist to this day and focus on interpretative issues and on its conclusiveness. This paper argues that both camps have largely been talking past one another and reviews 1. the early argument of Mises and predecessors; 2. the development of an “orthodox line” and its subsequent challenge by the emergence of a revisionist account; 3. the persistence of the standard account under the influence of both Friedrich von Wieser and Joseph Schumpeter; 4. lessons of the SCD for the theory of the firm; 5. the questionable relevance of Mechanism Design Theory for correctly understanding the SCD; and 6. the relevance of Gödel’s Incompleteness Phenomenon in the context of computable economics.

Suggested Citation

  • Ludwig Van Den Hauwe, 2019. "Ludwig von Mises’ Argument Against the Possibility of Socialism: Early Concepts and Contemporary Relevance," The European Heritage in Economics and the Social Sciences, in: Jürgen Backhaus & Günther Chaloupek & Hans A. Frambach (ed.), The First Socialization Debate (1918) and Early Efforts Towards Socialization, pages 191-222, Springer.
  • Handle: RePEc:spr:euhchp:978-3-030-15024-2_13
    DOI: 10.1007/978-3-030-15024-2_13
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