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.
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.
Network layerIn the seven-layer OSI model of computer networking, the network layer is layer 3. The network layer is responsible for packet forwarding including routing through intermediate routers. The network layer provides the means of transferring variable-length network packets from a source to a destination host via one or more networks. Within the service layering semantics of the OSI (Open Systems Interconnection) network architecture, the network layer responds to service requests from the transport layer and issues service requests to the data link layer.
Transport layerIn computer networking, the transport layer is a conceptual division of methods in the layered architecture of protocols in the network stack in the Internet protocol suite and the OSI model. The protocols of this layer provide end-to-end communication services for applications. It provides services such as connection-oriented communication, reliability, flow control, and multiplexing. The details of implementation and semantics of the transport layer of the Internet protocol suite, which is the foundation of the Internet, and the OSI model of general networking are different.
Application layerAn application layer is an abstraction layer that specifies the shared communications protocols and interface methods used by hosts in a communications network. An application layer abstraction is specified in both the Internet Protocol Suite (TCP/IP) and the OSI model. Although both models use the same term for their respective highest-level layer, the detailed definitions and purposes are different. In the Internet protocol suite, the application layer contains the communications protocols and interface methods used in process-to-process communications across an Internet Protocol (IP) computer network.
Data link layerThe data link layer, or layer 2, is the second layer of the seven-layer OSI model of computer networking. This layer is the protocol layer that transfers data between nodes on a network segment across the physical layer. The data link layer provides the functional and procedural means to transfer data between network entities and may also provide the means to detect and possibly correct errors that can occur in the physical layer. The data link layer is concerned with local delivery of frames between nodes on the same level of the network.
Transport Layer SecurityTransport Layer Security (TLS) is a cryptographic protocol designed to provide communications security over a computer network. The protocol is widely used in applications such as email, instant messaging, and voice over IP, but its use in securing HTTPS remains the most publicly visible. The TLS protocol aims primarily to provide security, including privacy (confidentiality), integrity, and authenticity through the use of cryptography, such as the use of certificates, between two or more communicating computer applications.
Point-to-Point ProtocolIn computer networking, Point-to-Point Protocol (PPP) is a data link layer (layer 2) communication protocol between two routers directly without any host or any other networking in between. It can provide loop connection authentication, transmission encryption, and data compression. PPP is used over many types of physical networks, including serial cable, phone line, trunk line, cellular telephone, specialized radio links, ISDN, and fiber optic links such as SONET.
Point-to-point (telecommunications)In telecommunications, a point-to-point connection refers to a communications connection between two communication endpoints or nodes. An example is a telephone call, in which one telephone is connected with one other, and what is said by one caller can only be heard by the other. This is contrasted with a point-to-multipoint or broadcast connection, in which many nodes can receive information transmitted by one node. Other examples of point-to-point communications links are leased lines and microwave radio relay.
Chemical equilibriumIn a chemical reaction, chemical equilibrium is the state in which both the reactants and products are present in concentrations which have no further tendency to change with time, so that there is no observable change in the properties of the system. This state results when the forward reaction proceeds at the same rate as the reverse reaction. The reaction rates of the forward and backward reactions are generally not zero, but they are equal. Thus, there are no net changes in the concentrations of the reactants and products.
Equilibrium constantThe equilibrium constant of a chemical reaction is the value of its reaction quotient at chemical equilibrium, a state approached by a dynamic chemical system after sufficient time has elapsed at which its composition has no measurable tendency towards further change. For a given set of reaction conditions, the equilibrium constant is independent of the initial analytical concentrations of the reactant and product species in the mixture.
Moment-generating functionIn probability theory and statistics, the moment-generating function of a real-valued random variable is an alternative specification of its probability distribution. Thus, it provides the basis of an alternative route to analytical results compared with working directly with probability density functions or cumulative distribution functions. There are particularly simple results for the moment-generating functions of distributions defined by the weighted sums of random variables.
Nernst equationIn electrochemistry, the Nernst equation is a chemical thermodynamical relationship that permits the calculation of the reduction potential of a reaction (half-cell or full cell reaction) from the standard electrode potential, absolute temperature, the number of electrons involved in the redox reaction, and activities (often approximated by concentrations) of the chemical species undergoing reduction and oxidation respectively. It was named after Walther Nernst, a German physical chemist who formulated the equation.
