Mark my words: American leftists who are celebrating the 200th anniversary of Karl Marx’s birthday will not make any mention of the problem of economic calculation under socialism. The reason? The calculation problem reveals that socialism is an inherently flawed economic paradigm. It makes sense that American leftists would not want to talk about something that shows that the economic system they favor is fundamentally flawed.

Imagine a socialist society as envisioned by Marx. The state owns and produces everything. … Continue reading The Calculation Flaw in Marx’s Socialism