I explain Mises' impossibility thesis of socialism, i.e. the economic calculation problem, and why it makes a "socialist economy" strictly impossible.Join th...
Yea capitalists meanwhile are great at predicting demand.
Like where does he think capitalists get the demand for a commodity from?
In a capitalist society, if you don’t want something, you don’t buy it, whereas under a planned economy you’re stuck with it because that’s what the state decided to make.
No one under socialism is required to buy anything either. What is their point?
Yea capitalists meanwhile are great at predicting demand.
Like where does he think capitalists get the demand for a commodity from?
No one under socialism is required to buy anything either. What is their point?
Microecon nerds live in a different universe.