Quotes from “Monetary Calculation and Mises’ Critique of Planning”

By Steven Horwitz (1998)

• Economic calculation is only necessary in a world where capital goods are understood to be heterogeneous and only possible where those heterogeneous capital goods are privately owned and exchanged for money in a genuine market.#
  EconomicsCapitalMoney
• The Mises notion of appraisement is simply the entrepreneur spotting what he perceives as current disequilibria by creatively imagining a more equilibrating future constellation of prices. This, of course, is also the role of Kirzner’s entrepreneur.#
  Economics
• Regimes that avoid inflation and deflation are to be desired not just because they stabilize the aggregate price level and ease the expectational burden on actors, but because they prevent socially unnecessary disturbances to individual money prices that undermine their ability to serve as knowledge providers in disequilibrium.#
  EconomicsMoney