Menger, among the founders of marginalism, was the least mathematical and the one most interested in individual subjective valuations. These characteristics allowed for the development, by his successors, of what has become known as the Austrian School of economic theory. Among their notable...

This paper seeks to examine the extent to which economic calculation can be done and under what circumstances it can be said to produce optimal benefits. The question has considerable practical importance as economic greater calculability is related to reduced risk and uncertainty and...