Calculation and Coordination

This collection of essays from one of the major Austrian economists working in the world today brings together in one place some of his key writings on a variety of economic issues. List of illustrations, Copyright acknowledgments, Acknowledgments, 1 Introduction, 2 Why are there no Austrian Socialists? Ideology, science, and the Austrian school, 3 Economic calculation: the Austrian contribution to political economy, 4 Hayek’s The Road to Serfdom revisited: government failure in the argument against Socialism, 5 Coase, Communism, and the “Black Box” of Soviet-type economies, 6 The Soviet experiment with pure Communism, 7 The political economy of utopia: Communism in Soviet Russia, 1918–21, 8 Soviet venality: a rent-seeking model of the Communist state, 9 Credibility, commitment, and Soviet economic reform, 10 Perestroika and public choice: the economics of autocratic succession in a rent-seeking society, 11 The reform trap in economics and politics in the former Communist economies, 12 Promises made and promises broken in the Russian transition, 13 The Russian crisis: perils and prospects for post-Soviet transition, 14 The political infrastructure of economic development, 15 Why culture matters: economics, politics, and the imprint of history, 16 Concluding remarks, Appendix 1: Economic freedom and wealth, Appendix 2: Economic wealth and welfare, Notes, Index