Classifier Instance:

Anchor text: Werner Sombart
Target Entity: Werner_Sombart
Preceding Context: Weber, like his colleague
Succeeding Context: , regarded economic calculation and especially the double-entry bookkeeping method of business accounting, as one of the most important forms of rationalisation associated the development of modern capitalism. Weber's preoccupation with the importance of economic calculation led him to develop a critique of socialism as a system that lacked a mechanism for allocating resources efficiently in order to satisfy human needs. Socialist intellectuals like Otto Neurath had realised that in a completely socialised economy, prices would not exist and central planners would have to resort to in-kind (rather than monetary) economic calculation. According to Weber, this type of coordination would be inefficient, especially because it would be incapable of solving the problem of imputation (i.e. of accurately determining the relative values of capital goods). Weber wrote that, under full socialism,
Paragraph Title: Economic calculation
Source Page: Max Weber

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