A New Translation of Mises' 'Economic Calculation in the Socialist Commonwealth'

Abstract

Ludwig Mises' "Economic Calculation in the Socialist Commonwealth" ("Die Wirtschaftsrechnung im sozialistischen Gemeinwesen," Archiv für Sozialwissenschaft und Sozialpolitik 47.1 [1920]: 86-121) is known mostly in the English-speaking world through a translation by S. Alder (in F.A. Hayek, ed., Collectivist Economic Planning [London: George Routledge & Sons, 1935], pp. 87-130), which contains several errors in translation and does some violence to English. This is a new translation of Mises' work, based on corrections to Alder's translation. It includes a copy of Mises' article in German with a facing English translation.

Keywords: Mises, Socialist Calculation, Austrian Economics

JEL Classification: B14, B19, B31