The Guidance of Production in a Socialist State.¶
Taylor, F. M. (1929). The Guidance of Production in a Socialist State. American Economic Review.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Price Mechanism
- … role — that market prices aggregate dispersed local knowledge no central planner can replicate (Hayek 1945). The argument was central to the socialist calculation debate of the 1920s–40s, which modern historiography dates from Mises's 1920 challenge and organizes around Mises, Hayek, Lange, and Taylor
This sourceInterwar socialist-side contribution to the calculation problem; modern reference treatments increasingly include Taylor alongside Lange rather than treating Lerner as the sole neoclassical socialist.
- … role — that market prices aggregate dispersed local knowledge no central planner can replicate (Hayek 1945). The argument was central to the socialist calculation debate of the 1920s–40s, which modern historiography dates from Mises's 1920 challenge and organizes around Mises, Hayek, Lange, and Taylor
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