A critique that Hayek's emphasis on the lack of knowledge problem is inadequate, that supports Mises' position that any lack of private property is a more fundamental problem for socialism.
"... Joseph Salerno has argued in effect that Mises's original argument in the so-called socialist calculation debate was correct all along and was also the final word, whereas Hayek's distinct contribution to the debate was fallacious from the outset, and merely added confusion. ...
Mises's well-known calculation argument states this: If there is no private property in land and other production factors, then there can also be no market prices for them. Hence, economic calculation, i.e., the comparison, in light of current prices, of anticipated revenue, and expected cost expressed in terms of a common medium of exchange-money-(thus permitting cardinal accounting operations), is literally impossible.
Therefore, socialism's fatal error is the absence of private property in land and production factors, and, by implication, the absence of economic calculation. For Hayek, socialism's problem is not a lack of property but a lack of knowledge. ..."