First published in Norwegian in 1938, the English translation of Hoff's work didn't appear until 1949, and was not widely available. As a survey of the debate on socialist calculation, and a defense of the pure Mises-Hayek position, this work deserves more attention than it has received. He covers a myriad of objections to the idea that by socializing the means of production, government wrecks the ability to calculate. He also addresses still-common criticisms of the capitalist production process.
The contents of this essential work include:
Introduction (Karen I. Vaughn) 1. Statement of the Problem--Earlier Treatment of the Subject--Possibility of "Objective" Discussion 2. Definitions and Assumptions 3. Procedure--Additional Assumptions--The Aim of Social Economic Activity 4. Calculation in Socialism Societies with a Natural Economy 5. The Possibility of Economic Calculation in Marxist-Communist Communities 6. Money and the Formation of Prices of Consumer Goods in a Socialist Society with Free Choice of Goods and Occupation 7. Reserves, Profit, and Risk in the Socialist State 8. Interest in the Socialist Society 9. Rent in the Socialist Society 10. Depreciation in the Socialist Society 11. Mises' Theory, Proposed Solutions: Mathematical Solutions and the "Experimental Method" 12. Other Solutions, Marginal Costs as Criteria 13. Other Suggested Solutions: Competition in the Socialist Community 14. Economic Calculation in a Socialist Society Where There Is Free Choice of Goods or Occupation 15. Resume and Conclusions Appendices A. The Price-Mechanism in a Private Capitalist Society B. Alleged Defects of Capitalist Societies and the Chances of Eliminating them in Socialist Societies C. A Comparison between our Conclusions and Experiences in Soviet Russia ISBN 0913966932Hardcover, 405 pp.
