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Calculation and Coordination explores the founding and failure of socialism and the attempts to reform and transform it in the twentieth century, focusing on the Soviet experience. It combines the strengths of the Austrian market-process tradition with the political economy of public choice to provide an analytical framework for theoretical and historical examination of socialist practice and post-socialist political economy.
Peter Boettke places particular emphasis on the difficulties of economic calculation in the absence of secure private property rights and on the importance of establishing a credible commitment to limited government in smoothing the path from Soviet socialism to a liberal political and economic order in Post-Soviet Russia.
The volume includes essays on: the theoretical debate over socialism and, in particular, the contributions of Mises and Hayek, the origins of socialism in Russia, the institutionalist maturation of socialist practice and the de facto organizing principles of the mature Soviet-type economy, and the collapse of and failure to successfully reform the Soviet system.