Whether resources can be efficiently organised in a centrally planned economy – INSIGHTSIAS
[ad_1] GS Paper 3: Syllabus: Indian Economy and issues relating to planning, mobilisation of resources, growth, development and employment. Context: Basic economy concept for Mains and economy/Sociology optional Socialist calculation debate: Whether centrally planned economies can allocate scarce resources efficiently? The debate was between the Austrian school economists Ludwig von Mises and Friedrich Hayek … Read more