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News Link • Political Theory

The Calculation Flaw in Marx's Socialism

• arclein

As Austrian economists Ludwig von Mises and Friedrich Hayek demonstrated, it is impossible to answer these questions with any degree of rationality. The reason for that is because under socialism, there are no prices. Without prices, it is impossible to calculate the costs of projects or evaluate their worth. The result is what Mises called "planned chaos." That's what socialism always and inevitably produces - chaos. Just look at Cub

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