"Economic Calculation Problem": The Worst Argument Against Socialism
Support me on Patreon: / comradehakim
Twitter: @YaBoiHakim
Hi there! Still on break, but here's a highly requested topic that I'm finally getting around to covering. Tl;dr? It's a non-issue, and has been for like 50 years. Anyone even remotely knowledgeable about the ECP would know that it isn't a good argument against Socialism. Sources and further reading in the pinned comment.
00:00 Introduction
00:36 Chapter 1: What is the ECP?
03:09 Chapter 1.5: Why Even Bother Discussing This?
05:24 Chapter 2: The Failures of the Market
09:26 Chapter 3: Planning Under Capitalism
11:35 Chapter 4: Planning Under Socialism (and "Inefficiency")
16:54 Chapter 5: The Future of Planning (in Light of the Past)
19:30 Chapter 6: The Failure of "Argumentum ad ECP-um"
25:50 Chapter 7: Market Socialism as a Solution?
27:23 Conclusion