Calculation And Coordination: Essays On Socialism And Transitional Political Economy (foundations Fo The Market Economy)

Calculation and Coordination Calculation and Coordination explores the founding and failure of socialism, and the attempts to reform and transform it in the twentieth century. It combines the strengths of the Austrian market-process tradition with the political economy of public choice to provide an analytical framework for theoretical and historical examination of socialist practice and post-socialist political economy. Peter J.Boettke places particular emphasis on the difficulties of economic calculation in the absence of secure private-property rights and on the importance of establishing a credible commitment to limited government in smoothing the path from Soviet socialism to a liberal political and economic order in Post-Soviet Russia. The volume features essays on: • • • • The theoretical debate over socialism, and in particular the contributions of Mises and Hayek. The origins of socialism in Russia. The institutionalist maturation of socialist practice and the de facto organizing principles of the mature Soviet-type economy. The collapse of and failure to successfully reform the Soviet system. This collection will prove to be of great interest to academics and students in the fields of economics, comparative politics, and development studies. Peter J.Boettke is Associate Professor at George Mason University, where he also serves as the Deputy Director of the James M.Buchanan Center for Political Economy. Foundations of the Market Economy Edited by Mario J.Rizzo, New York University, and Lawrence H.White, University of Georgia A central theme in this series is the importance of understanding and assessing the market economy from a perspective broader than the static economics of perfect competition and Pareto optimality. Such a perspective sees markets as causal processes generated by the preferences, expectations and beliefs of economic agents. The creative acts of entrepreneurship that uncover new information about references, prices and technology are central to these processes with respect to their ability to promote the discovery and use of knowledge in society. The market economy consists of a set of institutions that facilitate voluntary cooperation and exchange among indiviudals. These institutions include the legal and ethical framework as well as more narrowly ‘economic’ patterns of social interaction. Thus, the law, legal institutions and cultural and ethical norms, as well as ordinary business practices and phenomena, fall within the analytical domain of the economist. The Meaning of Market Process Essays in the development of modern Austrian economics Israel M.Kirzner Prices and Knowledge A market-process perspective Esteban F.Thomas Keynes’ General Theory of Interest A reconsideration Fiona C.Maclachlan Laissez-Faire Banking Kevin Dowd Expectations and the Meaning of Institutions Essays in economics by Ludwig Lachmann Edited by Dan Lavoie Perfect Competition and the Transformation of Economics Frank M.Machovec Entrepreneurship and the Market Process An enquiry into the growth of knowledge David Harper Economics of Time and Ignorance Gerald O’Driscoll and Mario J.Rizzo Dynamics of the Mixed Economy Towards a theory of interventionism Sanford Ikeda Neoclassical Microeconomic Theory The founding of Austrian vision A.M.Endres The Cultural Foundations of Economic Development Urban female entrepreneurship in Ghana Emily Chamlee-Wright Risk and Business Cycles New and old Austrian perspectives Tyler Cowen Capital in Disequilibrium The role of capital in a changing world Peter Lewin The Driving Force of the Market Essays in Austrian economics Israel Kirzner An Entreprene