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| Author: | Greenwood, D. |
| Title: | Commensurability and beyond: from Mises and Neurath to the future of the socialist calculation debate |
| Journal: | Economy and Society
2006 : FEB, VOL. 35:1, p. 65-90 |
| Index terms: | economic theory econometrics monetary policy rationality production socialism valuation |
| Language: | eng |
| Abstract: | It is argued by Mises' 'calculation argument' against socialism that monetary calculation is indispensable as commensurable unit for evaluating factors of production. Commensurability (here as: comms.) is needed, rather, as an aid in the face of economic complexity. The socialist Neurath's response to Mises is unsatisfactory in rejecting the need to explore possible non-market techniques for achieving a certain degree of comms. Yet the value of Neurath's contribution is in emphasizing the need for a balanced, comparative approach to the question of market vs. non-market putting the comms. question in context. |
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