Editing Max Weber (section)

====Economic calculation====
Like his colleague [[Werner Sombart]], Weber regarded [[Cost–benefit analysis|economic calculation]], particularly [[double-entry bookkeeping]], as having played a significant role in [[Rationalization (sociology)|rationalisation]] and the development of capitalism.{{sfnm|1a1=Carruthers|1a2=Espeland|1y=1991|1pp=31–34|2a1=Swedberg|2a2=Agevall|2y=2016|2pp=24–25}} Weber's preoccupation with the importance of economic calculation led him to critique socialism as lacking a mechanism to efficiently allocate resources to satisfy human needs.{{sfnm|1a1=Tribe|1y=2009|1pp=157–158|2a1=Swedberg|2a2=Agevall|2y=2016|2p=199}} [[Otto Neurath]], a socialist thinker, thought that [[price]]s would not exist and central planners would use in-kind, rather than monetary, [[economic calculation problem|economic calculation]] in a completely socialised economy.{{sfnm|1a1=Tribe|1y=2009|1pp=143–147|2a1=Cat|2y=2023}} According to Weber, this type of coordination was inefficient because it was incapable of solving the problem of [[Theory of imputation|imputation]], which related to the difficulties in accurately determining the relative values of [[capital good]]s.{{sfnm|1a1=Tribe|1y=2009|1pp=158–159|2a1=Cat|2y=2023}} Weber wrote that the value of goods had to be determined in a socialist economy. However, there was no clear method for doing so in that economic system. Planned economies were, therefore, irrational.{{sfnm|1a1=Callison|1y=2022|1pp=281–282|2a1=Tribe|2y=2009|2pp=157–159|3a1=Swedberg|3a2=Agevall|3y=2016|3p=199}} At approximately the same time, [[Ludwig von Mises]] independently made the same argument against socialism.{{sfnm|1a1=Tribe|1y=2009|1p=142|2a1=Swedberg|2a2=Agevall|2y=2016|2p=199}} Weber himself had a significant influence on Mises, whom he had befriended when they were both at the University of Vienna in the spring of 1918. However, Mises ultimately regarded him as having been a historian, rather than an economist.{{sfnm|1a1=Maclachlan|1y=2017|1p=1166|2a1=Kolev|2y=2020|2p=44|3a1=Callison|3y=2022|3pp=275–276}}