By Peter J Boettke
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Additional info for Calculation and Coordination: Essays on Socialism and Transitional Political Economy (Foundations Fo the Market Economy)
Lavoie, National Economic Planning: What is Left? Washington, DC, Cato Institute, pp. 247–65. Caldwell, Carl Menger and His Legacy in Economics, Durham, NC: Duke University Press, pp. 359–77. Boettke, Notes on Ideology and Austrian Economics,C. Starr Center for Applied Economics, New York University, RR #94–19 (May): 54–62. , Jr. (1994) Lost Prophets: An Insider’s History of the Modern Economists, Boston: Harvard Business School Press. McCloskey, D. (1985) The Rhetoric of Economics, Madison, WI, University of Wisconsin Press.
To put it another way, if the choice is between utility and justice, then, of course, we can agree that justice should trump. But, in the world, the choice is rarely so clear-cut. 23 Knowledge of the consequences of alternative social arrangements is vital to making the choice among those arrangements. If we deny that this knowledge is obtainable in any manner that allows for interpersonal assessment, then we deny from the moral science of political economy the ability to adjudicate between different conceptions of social organization.
Both the angel and the Devil can agree with the analysis, but place different weight on the normative use to which the analysis can be deployed. The analysis itself, however, is value-neutral. To deny that would, I fear, result in denying economic logic and as such would drain economics of its critical edge. 24 Calculation and Coordination Critical appraisal and policy advocacy There is a strict line that must be drawn between the critical appraisal of alternative public policies and advocacy of any policy.