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Economic Calculation in the Socialist Society

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This work deserves more attention than it has received.
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First published in Norwegian in 1938, the English translation of Hoff's work didn't appear until 1949, and was not widely available. As a survey of the debate on socialist calculation, and a defense of the pure Mises-Hayek position, this work deserves more attention than it has received. He covers a myriad of objections to the idea that by socializing the means of production, government wrecks the ability to calculate. He also addresses still-common criticisms of the capitalist production process.


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The contents of this essential work include:

  • Introduction (Karen I. Vaughn)
  • 1. Statement of the Problem--Earlier Treatment of the Subject--Possibility of "Objective" Discussion
  • 2. Definitions and Assumptions
  • 3. Procedure--Additional Assumptions--The Aim of Social Economic Activity
  • 4. Calculation in Socialism Societies with a Natural Economy
  • 5. The Possibility of Economic Calculation in Marxist-Communist Communities
  • 6. Money and the Formation of Prices of Consumer Goods in a Socialist Society with Free Choice of Goods and Occupation
  • 7. Reserves, Profit, and Risk in the Socialist State
  • 8. Interest in the Socialist Society
  • 9. Rent in the Socialist Society
  • 10. Depreciation in the Socialist Society
  • 11. Mises' Theory, Proposed Solutions: Mathematical Solutions and the "Experimental Method"
  • 12. Other Solutions, Marginal Costs as Criteria
  • 13. Other Suggested Solutions: Competition in the Socialist Community
  • 14. Economic Calculation in a Socialist Society Where There Is Free Choice of Goods or Occupation
  • 15. Resume and Conclusions
  • Appendices
    • A. The Price-Mechanism in a Private Capitalist Society
    • B. Alleged Defects of Capitalist Societies and the Chances of Eliminating them in Socialist Societies
    • C. A Comparison between our Conclusions and Experiences in Soviet Russia

ISBN 978091396693
Publisher Liberty Fund
Publication Date [1949] 1981
Binding HB
Page Length 405

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