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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Brusco, Sebastiano, 1982. "The Emilian Model: Productive Decentralisation and Social Integration," Cambridge Journal of Economics, Oxford University Press, vol. 6(2), pages 167-84, June.
- Russell Smyth & Dic Lo, 2000. "Theories of the Firm and the Relationship between Different Perspectives on the Division of Labour," Review of Political Economy, Taylor and Francis Journals, vol. 12(3), pages 333-349.
- Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
- Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
- Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
- Pranab Bardhan & John E. Roemer, 1992.
"Market Socialism: A Case for Rejuvenation,"
Journal of Economic Perspectives,
American Economic Association, vol. 6(3), pages 101-116, Summer.
- Adaman, Fikret & Devine, Pat, 1996. "The Economic Calculation Debate: Lessons for Socialists," Cambridge Journal of Economics, Oxford University Press, vol. 20(5), pages 523-37, September.
- Dietrich, Michael, 1986. "Organisational Requirements of a Socialist Economy: Theoretical and Practical Suggestions," Cambridge Journal of Economics, Oxford University Press, vol. 10(4), pages 319-32, December.
- Bruce Caldwell, 1997. "Hayek and Socialism," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 1856-1890, December.
- Pranab Bardhan & John E. Roemer, 1994. "On the Workability of Market Socialism," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 177-181, Spring.
- Bianchi, Marina, 1995. "Markets and firms Transaction costs versus strategic innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 28(2), pages 183-202, October.
- Andrei Shleifer & Robert W. Vishny, 1994. "The Politics of Market Socialism," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 165-176, Spring.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Duo QIN) The email address of this maintainer does not seem to be valid anymore. Please ask Duo QIN to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.