Economic Calculation In The Socialist Commonwealth Large Print Edition

LARGE PRINT EDITION! More at LargePrintLiberty.com. This is the essay that overthrew the socialist paradigm in economics, and provided the foundation for modern Austrian price theory. When it first appeared in 1920, Mises was alone in challenging the socialists to explain how their pricing system would actually work in practice. Mises proved that socialism could not work because it could not distinguish more or less valuable uses of social resources, and predicted the system would end in chaos. The result of his proof was the two-decade-long "socialist calculation" debate. This new edition contains an afterword by Joseph Salerno, who applies the calculation argument to contemporary problems like environmentalism and business regulation.

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This is the essay that overthrew the socialist paradigm in economics, and provided the foundation for modern Austrian price theory. When it first appeared in 1920, Mises was alone in challenging the socialists to explain how their pricing system would actually work in practice. Mises proved that socialism could not work because it could not distinguish more or less valuable uses of social resources, and predicted the system would end in chaos. The result of his proof was the two-decade-long "socialist calculation" debate. This new edition contains an afterword by Joseph Salerno, who applies the calculation argument to contemporary problems like environmentalism and business regulation. "The significance of Misess 1920 article extends far beyond its devastating demonstration of the impossibility of socialist economy and society. It provides the rationale for the price system, purely free markets, the security of private property against all encroachments, and sound money. Its thesis will continue to be relevant as long as economists and policy-makers want to understand why even minor government economic interventions consistently fail to achieve socially beneficial results. "Economic Calculation in the Socialist Commonwealth" surely ranks among the most important economic articles written this century." -Joseph T. Salerno, from the afterword

Marking the centenary of Walter Benjamin's immensely influential essay, "Toward the Critique of Violence," this critical edition presents readers with an altogether new, fully annotated translation of a work that is widely recognized as a classic of modern political theory. The volume includes twenty-one notes and fragments by Benjamin along with passages from all of the contemporaneous texts to which his essay refers. Readers thus encounter for the first time in English provocative arguments about law and violence advanced by Hermann Cohen, Kurt Hiller, Erich Unger, and Emil Lederer. A new translation of selections from Georges Sorel's Reflections on Violence further illuminates Benjamin's critical program. The volume also includes, for the first time in any language, a bibliography Benjamin drafted for the expansion of the essay and the development of a corresponding philosophy of law. An extensive introduction and afterword provide additional context. With its challenging argument concerning violence, law, and justice—which addresses such topical matters as police violence, the death penalty, and the ambiguous force of religion—Benjamin's work is as important today as it was upon its publication in Weimar Germany a century ago.

In Economic Logic, Mark Skousen offers a step-by-step approach to economics showing how microeconomics and macroeconomics are logically linked together. The fully revised fifth edition introduces a major breakthrough in macroeconomics: a "top line" in national income accounting called Gross Output. Also included: a powerful four-stage universal model of the economy, a new "growth" diagram, a new diagram of the optimal size of government, and new alternatives to the standard Aggregate Supply and Aggregate Demand curves. Economic Logic is also the first and only textbook to begin with a profit-and-loss income statement to demonstrate the dynamics of the economy. To aid students in comprehending the economic lessons, many other disciplines are integrated into the study of economics, including finance, business, marketing, management, history, and sociology.