For more than a century, some economists have insisted that central planning can outperform markets. Economists like Mises, Hayek, and Friedman disagreed. Who won this debate? Is it over? Does AI change how we should think about the power of planning? Listen as economist Peter Boettke of George Mason University discusses what is known as the "socialist calculation debate" with EconTalk's Russ Roberts.
For more than a century, some economists have insisted that central planning can outperform markets. Economists like Mises, Hayek, and Friedman disagreed. Who won this debate? Is it over? Does AI change how we should think about the power of planning? Listen as economist Peter Boettke of George Mason University discusses what is known as the "socialist calculation debate" with EconTalk's Russ Roberts.