Socialist calculation debateThe socialist calculation debate, sometimes known as the economic calculation debate, was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for capital goods and private ownership of the means of production. More specifically, the debate was centered on the application of economic planning for the allocation of the means of production as a substitute for capital markets and whether or not such an arrangement would be superior to capitalism in terms of efficiency and productivity.
Calculation in kindNOTOC Calculation in kind or calculation in-natura is a way of valuating resources and a system of accounting that uses disaggregated physical magnitudes as opposed to a common unit of calculation. As the basis for a socialist economy, it was proposed to replace money and financial calculation. In an in-kind economy products are produced for their use values (their utility) and accounted in physical terms. By contrast, in money-based economies, commodities are produced for their exchange value and accounted in monetary terms.
OpticsOptics is the branch of physics that studies the behaviour and properties of light, including its interactions with matter and the construction of instruments that use or detect it. Optics usually describes the behaviour of visible, ultraviolet, and infrared light. Because light is an electromagnetic wave, other forms of electromagnetic radiation such as X-rays, microwaves, and radio waves exhibit similar properties.
Economic calculation problemThe economic calculation problem (sometimes abbreviated ECP) is a criticism of using economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article "Economic Calculation in the Socialist Commonwealth" and later expanded upon by Friedrich Hayek. In his first article, Mises described the nature of the price system under capitalism and described how individual subjective values (while criticizing other theories of value) are translated into the objective information necessary for rational allocation of resources in society.
History of opticsOptics began with the development of lenses by the ancient Egyptians and Mesopotamians, followed by theories on light and vision developed by ancient Greek philosophers, and the development of geometrical optics in the Greco-Roman world. The word optics is derived from the Greek term τα ὀπτικά meaning 'appearance, look'. Optics was significantly reformed by the developments in the medieval Islamic world, such as the beginnings of physical and physiological optics, and then significantly advanced in early modern Europe, where diffractive optics began.
Optical communicationOptical communication, also known as optical telecommunication, is communication at a distance using light to carry information. It can be performed visually or by using electronic devices. The earliest basic forms of optical communication date back several millennia, while the earliest electrical device created to do so was the photophone, invented in 1880. An optical communication system uses a transmitter, which encodes a message into an optical signal, a channel, which carries the signal to its destination, and a receiver, which reproduces the message from the received optical signal.
Optical aberrationIn optics, aberration is a property of optical systems, such as lenses, that causes light to be spread out over some region of space rather than focused to a point. Aberrations cause the image formed by a lens to be blurred or distorted, with the nature of the distortion depending on the type of aberration. Aberration can be defined as a departure of the performance of an optical system from the predictions of paraxial optics.
Optical amplifierAn optical amplifier is a device that amplifies an optical signal directly, without the need to first convert it to an electrical signal. An optical amplifier may be thought of as a laser without an optical cavity, or one in which feedback from the cavity is suppressed. Optical amplifiers are important in optical communication and laser physics. They are used as optical repeaters in the long distance fiberoptic cables which carry much of the world's telecommunication links.
