HHLH Podcast Bonus Episodelet 006 – The Cost Calculation Problem Explained In Real Terms

This bonus episodelet is a bit cut from Episode 011 – Two Cows and Socialism due to time constraints. The Cost Calculation Problem has always been a point of contention for Socialists as they believe that the State should set prices, no matter what the cost of production is. Using two real-life examples, Brett and Rob explain (rather easily) how market forces signal producers to produce and at what price goods can be sold. This is known as the Cost Calculation Problem. Join them, as they are about 3oz into the Ardbeg, and get an easy-to-understand explanation of an economic reality.