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ANWR has become a national "cathedral" of the "environmental religion"--no more subject to economic calculations than, say, the preservation of Notre Dame in Paris.
The failure of state-led development aid in Appalachia may be seen as the result of two separate, but complementary mechanisms: (1) the inability of the ARC and other government agencies to engage in rational economic calculation, and (2) the political economy of domestic aid and the incentives faced by those giving and receiving assistance.
The table below summarizes Hansen's economic calculation.
Ludwig von Mises's (1927, 1949, [1922] 1981, [1920] 1990) and Friedrich Hayek's (1935, 1945) work on economic calculation and the knowledge problem are critical in understanding why state-led economic development on American Indian reservations has not had the expected effect on unemployment or poverty.
The Economic Calculation Debate: Lessons for Austrians.
The more it is destroyed, the more important it becomes to economic calculation.
Carl Weisbrod, president of the business improvement district the Alliance for Downtown New York, says buyers have to make the economic calculation, "but certain owners and buyers only work in commercial, and others are only residential developers.
The author also is fond of invoking the Austrian doctrine of "subjective cost" to criticize marginal cost pricing regulations, but if costs are purely subjective it is unclear how markets can engage in rational economic calculation.
Additionally, while appreciating public choice analysis of government policy, Holcombe directs the reader to the more complete Austrian critique of socialism and interventionism that emphasizes the importance of economic calculation.
The unit of money performs the function of economic calculation both for present exchanges and inter-temporal exchanges.
Hines' employer should understand that we never make the economic calculation that most other firms do, of balancing the costs of fighting versus the costs of settling: We do not settle cases brought by lawyers just trying to make a few bucks abusing the legal system.
Socialism, economic calculation and entrepreneurship.
Consider the claims - rampant nowadays in the US - that further government attempts to alleviate unemployment will fail, because America's current high unemployment is "structural": a failure of economic calculation has left the country with the wrong productive resources to satisfy household and business demand.
As far as the economic calculation is concerned we lose about 132- 200 crore a day on account of the economic blockade.
the possibility of economic calculation, is unthinkable" ([1927] 1996b, 75).
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