THE IMPORTANCE OF SOCIALIST CALCULATION DEBATE FOR CONTEMPORARY ECONOMIC THOUGHT

The present paper challenges the standard account of the Economic Calculation Debate by showing that it is not only about diverging views on socialism itself, but also about the methodology of economics and the theory of economic science as a whole. In this context it is argued that, contrary to the orthodox view, a clear distinction can be made even between the critics of socialism, like Ludwig von Mises and Friedrich Hayek.