Oskar Lange

Oskar Lange was a Polish economist known for exploring how a socialist economy could function efficiently. He proposed that government-controlled industries could set prices through a process similar to market competition, where they respond to supply and demand signals. This idea aimed to combine the efficiency of markets with social ownership of resources. Lange believed that with proper adjustments and planning, a planned economy could achieve the productivity and innovation seen in free markets, avoiding the inefficiencies of traditional central planning. His work contributed to debates on how socialism could be practically implemented in a modern economy.