Economic History

the topic name: In The Socialist Calculation Debate Friedrich Hayek was the primary voice arguing against the
feasibility of planning. As part of his contribution, he wrote two theoretical papers; “the Meaning
of Competition”; and “The Use of Knowledge in Society”. They are classic contributions. To
economic theory. Discuss their implications for Hayek’s position with respect to the possibilities
of planning. Your paper should place Hayek’s discussions in the larger context of the
perspective of Austrian Economics, and it’s difference from “Neoclassical Economics. In
addition to the two papers noted above, you will find Karen Vaughn’s paper on the debate,
“Economic Calculation under Socialism, the Austrian Contribution”, and class notes, very useful.
The parameters for the paper are the same as those outlined in the course outline.


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