Source: David Friedman’s Substack
by David Friedman
“The Calculation Controversy was an extended debate between a group of free market economists, including Ludwig von Mises and Friederich Hayek, and a group of socialist economists including Abba Lerner and Oskar Lange. It was set off by Mises’ article Economic Calculation in the Socialist Commonwealth, which argued that without markets and trade, rational economic calculation was impossible. The most interesting response from the socialist side was the Lerner and Lange’s model of socialism with markets.” (02/06/26)
https://daviddfriedman.substack.com/p/ronald-coase-abba-lerner-and-the