# Ludwig von Mises and Economic Calculation Under Socialism, Part 2

**URL:** <https://www.libertarianism.org/podcasts/excursions/ludwig-von-mises-and-economic-calculation-under-socialism-part-2>

**By** George H. Smith

**Published:** December 9, 2015

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George H. Smith explains why Mises predicted that “planned chaos” would emerge in a socialist economy and how F.A. Hayek elaborated on that insight.

[Originally published in essay form on April 9, 2013.](https://www.libertarianism.org/essays/excursions/ludwig-von-mises-economic-calculation-under-socialism-part-2)

_Narrated by Terence West._