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prices and information

by Paul Gomberg

14 December 1999 19:50 UTC


Dear WSN,

There is a virtual consensus in liberal political philosophy that "Hayek
has shown" that planned economies must be hopelessly inefficient, that
markets are necessary.  The most prominent academic "Marxists" now
defend only "market socialism." Yet the essence of Marx's vision of a
communist society is one where human relations are unmediated by money,
where collective rationality and science can govern our interactions in
a way that expresses communist principles.

Does anyone know of any literature that attempts a Marxist reply to the
Hayek argument about prices and information? Thanks in advance.

Paul

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