Why a Socialist Economy is "Impossible" - Part 2/4

Why a Socialist Economy is "Impossible" by Joseph T. Salerno

In "Economic Calculation in a Socialist Commonwealth," Ludwig von Mises demonstrates, once and forever, that, under socialist central planning, there are no means of economic calculation and that, therefore, socialist economy itself is "impossible" --not just inefficient or less innovative or conducted without benefit of decentralized knowledge, but really and truly and literally impossible.

Full text:
http://mises.org/econcalc/POST.asp

More information:
http://en.wikipedia.org/wiki/Socialist_calculation_debate

Joseph T. Salerno:
http://en.wikipedia.org/wiki/Joseph_T._Salerno

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• Why
• Socialist
• Economy
• is
• Impossible

[rayyf69]

Part 1 /4 is private?

[economicsinonelesson]

Yes, it was. Thanks for the comment.

[cris750]

The Socialistic(communist) economy is false because it does not address the problem of over-population...DIRECTLY! The direct attention to state power by the workers or proletariat only allows the recycling of corruption and the creation of a new class,which contradicts the dictum of a classless society, this new class is the leadership class. Population control is the result of the establishment of state communism with or without war industry. China is an example of this b/c of birth control.