“Lange argued that what economists now call neoclassical price theory showed the possibility of combining central planning and the market, and Hayek retorted that planning would subvert at its heart the mechanism that gave capitalism its vitality. Hayek’s criticisms of market socialism, and more recently those of Janos Kornai, are for the most part on the mark. But the experiences of capitalism, as well as of socialism, in the last fifty years suggest ways of reformulating the concept of market socialism in response to the Hayekian critique of its intellectual ancestor.”