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Socialist alternatives to capitalism II: Vienna to Santa Fe

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  • Duncan K. Foley

    (New School for Social Research)

Abstract

Optimal control theory and information technology provide tools with the capacity to implement top-down centralized allocation of resources in complex economies organized through a social division of labor. Twentieth century political and systems thinking, however, emphasize the virtues of bottom-up spontaneously organized systems. Workers’ control can be analyzed as one variety of bottom-up spontaneous organization. Another is peer production, as in the case of open-source software. A model of peer production under the name Lifenet provides some insights into the advantages and limitations of this approach to socialism.

Suggested Citation

  • Duncan K. Foley, 2020. "Socialist alternatives to capitalism II: Vienna to Santa Fe," Review of Evolutionary Political Economy, Springer, vol. 1(3), pages 313-328, November.
    • Handle: RePEc:spr:revepe:v:1:y:2020:i:3:d:10.1007_s43253-020-00013-4
    DOI: 10.1007/s43253-020-00013-4
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    References listed on IDEAS

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    1. Foley, Duncan K., 2010. "What's wrong with the fundamental existence and welfare theorems?," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 115-131, August.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Altruismo, incentivi e informazione: due o tre cose che so sull’esperienza socialista
      by Sergio Cesaratto in Politica&EconomiaBlog on 2017-11-26 14:19:00

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