A socialist price system: answering the Austrians

David McMullen has written an important essay countering the market economists.

“According to Austrian economists, even with everyone’s best efforts, a system based on social ownership of the means of production could not effectively deploy a decentralized price system. An examination of the key writings on the question by Mises, Hayek and Lavoie reveals that this view rests on very shaky ground”.

The essay, ‘A socialist price system: answering the Austrians’, can be accessed here.

David is the author of ‘Bright future: abundance and progress in the twenty-first century’ and ‘The economic case for social ownership’.

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