Friday , April 20 2018
Home / Robert Murphy: Free Advice / The “Calculation Problem” and “Knowledge Problem” Are Distinct

The “Calculation Problem” and “Knowledge Problem” Are Distinct

Summary:
I know there is some bad blood on this topic, but I am being sincere in my praise for Hayek. Anyway: Mises and Hayek were both brilliant economists who made numerous contributions in the Austrian tradition. Yet is inaccurate to refer to “the Mises-Hayek position” in the famous socialist calculation debate, and to do so obscures the Misesian understanding of calculation, which is necessarily monetary calculation. Although scholars should always take care to exercise courtesy in their assessments, it is proper to disentangle distinct arguments that are sometimes lumped together.

Topics:
Robert Murphy considers the following as important:

This could be interesting, too:

Don Boudreaux writes Some Links

Don Boudreaux writes Quotation of the Day…

Jason Brennan writes Read Tomorrow 3.0!

SchiffGold writes Expectations vs. Reality: SchiffGold Friday Gold Wrap 04.13.18

I know there is some bad blood on this topic, but I am being sincere in my praise for Hayek. Anyway:

Mises and Hayek were both brilliant economists who made numerous contributions in the Austrian tradition. Yet is inaccurate to refer to “the Mises-Hayek position” in the famous socialist calculation debate, and to do so obscures the Misesian understanding of calculation, which is necessarily monetary calculation. Although scholars should always take care to exercise courtesy in their assessments, it is proper to disentangle distinct arguments that are sometimes lumped together.

Robert Murphy
Christian, Austrian economist, and libertarian theorist. Research Prof at Texas Tech and author of *Choice*. Paul Krugman's worst nightmare.

Leave a Reply

Your email address will not be published. Required fields are marked *