The German historical school on the impossibility of economic calculation under socialism

In this paper, evidence is provided that Ludwig von Mises's calculation argument against socialism was anticipated in the 19th century by Bruno Hildebrand and Albert Scheiffle, two members of the German historical school of economics. It is further argued that it is no coincidence that it was the research program of the historical school which led to this result. When it comes to the institutions that are dealt with in business management, particularly monetary calculation and business capital, Austrian economists would be wise to forget the old animosities and to rediscover the contributions of their former adversaries in the Methodenstreit.