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Author: N. Scott Arnold
Publisher: Oxford University Press, USA
ISBN: 0195088271
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
This treatise offers a comparative evaluation of market socialism and free enterprise systems. It argues that a market socialist system would be responsible for widespread and systematic exploitation that is precluded or minimized in a free enterprise system.
Author: N. Scott Arnold
Publisher: Oxford University Press, USA
ISBN: 0195088271
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
This treatise offers a comparative evaluation of market socialism and free enterprise systems. It argues that a market socialist system would be responsible for widespread and systematic exploitation that is precluded or minimized in a free enterprise system.
Author: David McNally
Publisher: Verso
ISBN: 9780860916062
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
In this innovative book, David McNally develops a powerful critique of market socialism, by tracing it back to its roots in early political economy. He ranges from Adam Smith’s attempt to reconcile moral philosophy with market economics to Malthus’s reformulation of Smith’s political economy which made it possible to justify poverty as a moral necessity. Smith’s economic theory was also the source of an attempt to construct a critique of capitalism derived from his conception of free and equal exchange governed by natural price. This Smithian forerunner of today’s market socialism sought to reform the market without abolishing the social relations on which it was based. McNally explores this tradition sympathetically, but exposes its fatal flaws. The book concludes with an incisive consideration of efforts by writers such as Alec Nove to construct a “feasible” model of market socialism. McNally shows these efforts are still plagued by the failure of early Smithian socialism to come to grips with the social foundations of the market, the commodification of labor-power which is the key to market regulation of the economy. The results, he argues, are neither socialist nor workable.
Author: Christopher Pierson
Publisher: Penn State Press
ISBN: 9780271014791
Category : Political Science
Languages : en
Pages : 264
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Book Description
Christopher Pierson assesses the evidence of terminal decline, but finds rather a whole series of deep-seated challenges to traditional forms of socialist and social democratic thinking. Above all, these problems are to be found in the political economy of social democracy and its commitment to incremental change in the context of an increasingly globalized market economy. The latter chapters of the book are devoted to an assessment of market socialism, one of the most vigorous and innovative attempts to seek to recast socialist aspirations under these quite changed circumstances. In essence, market socialism represents an attempt to reconcile new forms of social ownership with the seeming ubiquity of the market. Having outlined this position, Pierson carefully and systematically critiques it and, in the process, develops a set of distinctive arguments about the nature of social ownership, the potential of the labor-managed economy, and the appropriate forms for an extension of economic democracy.
Author: David Miller
Publisher: Oxford University Press
ISBN: 9780198278641
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
David Miller makes a comprehensive analysis of an economy in which market mechanisms retain a central role, but in which capitalist patterns of ownership have been superceded. He provides a clear, coherent statement of the theoretical basis of market socialism, and justifies it as a viable political option.
Author: Johanna Bockman
Publisher: Stanford University Press
ISBN: 0804778965
Category : Business & Economics
Languages : en
Pages : 556
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Book Description
The worldwide spread of neoliberalism has transformed economies, polities, and societies everywhere. In conventional accounts, American and Western European economists, such as Milton Friedman and Friedrich von Hayek, sold neoliberalism by popularizing their free-market ideas and radical criticisms of the state. Rather than focusing on the agency of a few prominent, conservative economists, Markets in the Name of Socialism reveals a dialogue among many economists on both sides of the Iron Curtain about democracy, socialism, and markets. These discussions led to the transformations of 1989 and, unintentionally, the rise of neoliberalism. This book takes a truly transnational look at economists' professional outlook over 100 years across the capitalist West and the socialist East. Clearly translating complicated economic ideas and neoliberal theories, it presents a significant reinterpretation of Cold War history, the fall of communism, and the rise of today's dominant economic ideology.
Author: Mateusz Machaj
Publisher: Austrian Economics
ISBN: 9781788210355
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
Mateusz Machaj offers an in-depth examination of one of the defining issues that separates capitalism from socialism--the system of ownership or property rights--to highlight fundamental problems in the market socialism model. He shows that the mechanism of efficiency in market socialism is unable to play the part ascribed to it by its theoreticians.
Author: John O'Neill
Publisher: Psychology Press
ISBN: 9780415098274
Category : Capitalism
Languages : en
Pages : 246
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Book Description
Provides a critique of the market economy, focusing primarily but not exclusively on the work of F.A. Hayek.
Author: Ludwig von Mises
Publisher: VM eBooks
ISBN:
Category : Business & Economics
Languages : en
Pages : 766
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Book Description
Socialism is the watchword and the catchword of our day. The socialist idea dominates the modem spirit. The masses approve of it. It expresses the thoughts and feelings of all; it has set its seal upon our time. When history comes to tell our story it will write above the chapter “The Epoch of Socialism.” As yet, it is true, Socialism has not created a society which can be said to represent its ideal. But for more than a generation the policies of civilized nations have been directed towards nothing less than a gradual realization of Socialism.17 In recent years the movement has grown noticeably in vigour and tenacity. Some nations have sought to achieve Socialism, in its fullest sense, at a single stroke. Before our eyes Russian Bolshevism has already accomplished something which, whatever we believe to be its significance, must by the very magnitude of its design be regarded as one of the most remarkable achievements known to world history. Elsewhere no one has yet achieved so much. But with other peoples only the inner contradictions of Socialism itself and the fact that it cannot be completely realized have frustrated socialist triumph. They also have gone as far as they could under the given circumstances. Opposition in principle to Socialism there is none. Today no influential party would dare openly to advocate Private Property in the Means of Production. The word “Capitalism” expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas. In seeking to combat Socialism from the standpoint of their special class interest these opponents—the parties which particularly call themselves “bourgeois” or “peasant”—admit indirectly the validity of all the essentials of socialist thought. For if it is only possible to argue against the socialist programme that it endangers the particular interests of one part of humanity, one has really affirmed Socialism. If one complains that the system of economic and social organization which is based on private property in the means of production does not sufficiently consider the interests of the community, that it serves only the purposes of single strata, and that it limits productivity; and if therefore one demands with the supporters of the various “social-political” and “social-reform” movements, state interference in all fields of economic life, then one has fundamentally accepted the principle of the socialist programme. Or again, if one can only argue against socialism that the imperfections of human nature make its realization impossible, or that it is inexpedient under existing economic conditions to proceed at once to socialization, then one merely confesses that one has capitulated to socialist ideas. The nationalist, too, affirms socialism, and objects only to its Internationalism. He wishes to combine Socialism with the ideas of Imperialism and the struggle against foreign nations. He is a national, not an international socialist; but he, also, approves of the essential principles of Socialism.
Author: Gareth Dale
Publisher: Polity
ISBN: 0745640710
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
Karl Polanyi’s The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century ‘market fundamentalism’ it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi’s ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi’s daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi’s thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.
Author: Joseph E. Stiglitz
Publisher: MIT Press
ISBN: 9780262691826
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies. Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.
