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1-Describe the potential role for markets in a socialist system. In your answer make sure to include a discussion of · a detailed summary of Mises’ description of the nature of economic calculation and possibility of rational economic calculation in a socialist economy. Could there be a rational calculation in a socialist economy according to Mises, why or why not? How is nationalizing companies is different than having a shareholder-manager conflict according to Mises? · how Chinese reformers benefited from the “socialist calculation debate”. Weber pointed out to Oskar Lange’s challenge against Mises, how Chinese reformers adapted these ideas? 2- Duncan Foley discusses socialist system according to Marx. What do we talk about when we talk about socialism, according to Foley? In your answer make sure to include a discussion of · Marx’s vision in Critique of the Gotha Programme which claims there are two “stages” to the construction of communism, and the implications of his vision · Contributions of the Karl Menger’s “Vienna Circle” and the implications of these contributions for the “top-down” vision of socialism · Socialism as a self-organized or “bottom-up” system, and three main properties of a socialist system

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