Oskar R. Lange quotes

Mathematical programming assisted by electronic computers becomes the fundamental instrument of long-term economic planning, as well as of solving dynamic economic problems of a more limited scope. Here, the electronic computer does not replace the market. It fulfils a function which the market never was able to perform. (Oskar R. Lange)
Human needs, although originally derived from biological necessity, are thus a result of the existence of society and are conditioned by the stage of development which society has reached. View quote
Oskar R. Lange
In my essay I refuted the Hayek-Robbins argument by showing how a market mechanism could be established in a socialist economy which would lead to the solution of the simultaneous equations by means of an empirical procedure of trial and error. [...] Were I to rewrite my essay today my task would be much simpler. My answer to Hayek and Robbins would be: so what's the trouble? Let us put the simultaneous equations on an electronic computer and we shall obtain the solution in less than a second. The market process with its cumbersome tatonnements appears old-fashioned. Indeed, it may be considered as a computing device of the preelectronic age. View quote
Oskar R. Lange

Oskar R. Lange

Oskar R. Lange - Image
Born: July 27, 1904
Died: October 2, 1965
Quotes count: 3