Revisiting the socialist calculation debate: the role of finance in Hayek's Response to Lange's Challenge

Sotiropoulos, Dimitris and Auerbach, Paul (2013). Revisiting the socialist calculation debate: the role of finance in Hayek's Response to Lange's Challenge. In: Bellofiore, Ricardo; Karwowski, Ewa and Toporowski, Jan eds. Economic Crisis and Political Economy, Volume 2 of Essays in Honour of Tadeusz Kowalik. Palgrace Studies in the History of Economic Thought. Basingstoke: Palgrave Macmillan, pp. 212–230.

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Abstract

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Rosa Luxemburg, Oskar Lange and Michał Kalecki made important contributions to twentieth century political economy that guided the thinking of their student Tadeusz Kowalik. A wide range of contributors to this volume, including Alberto Chilosi, Gary Dymski, John King, Mario Nuti, Alessandro Vercelli, Kazimierz Łaski, Leon Podkaminer, Edwin Le Heron, Malcolm Sawyer, Janusz Tomidajewicz, Pat Devine, Paul Mattick, Marc Lavoie, Paul Auerbach and Dimitris Sotiropoulos, examine how the ideas of Luxemburg, Lange, Kalecki and Kowalik, from finance to macroeconomics, the business cycle and the possibilities of Keynesian stabilisation, to illuminate our understanding of the crisis in twenty-first century capitalism.

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