2/25/2012

The impracticability of socialism

In a socialist community the possibility of economic calculations is lacking: it is therefore impossible to ascertain the cost and result of an economic operation or to make the result of the calculation the test of the operation.

Also, it is impossible to find a form of organization which makes the economic action of the individual independent of the cooperation of other citizens without leaving it open to all the risks of mere gambling.

The existence of the fist problem can only be revealed by the methods of the modern subjective theory of value.

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