Salerno on Socialism and Calculation

Here is Joe Salerno’s excellent summary of the Economic Calculation Debate.

The sniping remarks about the utopian socialists are pure gold. Salerno also mentions Charles Fourier, the man who argued that not only would socialism be more productive than capitalism but that under socialism:

• the North Pole would be milder than the Mediterranean
• the seas would lose their salt and become oceans of lemonade
• the world would contain 37 million poets equal to Homer, 37 million mathematicians equal to Newton and 37 million dramatists equal to Molière, although “these are approximate estimates”

The reality turns out to be very different.

Irish Liberty Forum Competition

The first 10 people to click this link win a pdf of David Friedman’s “The Machinery of Freedom”.

Those who missed out can find a copy here.