Towards A Re-Interpretation Of The Economics Of Feasible Socialism
AbstractThis paper re-examines the debate on whether socialism is feasible from the perspective of the literature on the division of labour and organisational forms. Our central argument is twofold. First, each of the major protagonists in the debate provide a partial explanation as to when market socialism, planned socialism and participatory socialism are feasible. Second, the different perspectives on when socialism is feasible can be reconciled through seeing the arguments in terms of specific techno-economic paradigms, which are underpinned by their own concepts of the division of labour and efficiency attributes. We will show that theories on the economics of socialism reflect different techno-economic paradigms and that when, and whether, the various views on socialism are appropriate depend on the prevailing external conditions, economic growth path and existing mode of institutional arrangement.
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Bibliographic InfoPaper provided by Department of Economics, SOAS, University of London, UK in its series Working Papers with number 119.
Length: 35 pages
Date of creation: Feb 2002
Date of revision:
Division of Labour; Organisational Forms; Socialism;
Other versions of this item:
- Dic Lo & Russell Smyth, 2004. "Towards a re-interpretation of the economics of feasible socialism," Cambridge Journal of Economics, Oxford University Press, vol. 28(6), pages 791-808, November.
- B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
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