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Market Socialism Is Not Market Capitalism

  • Arthur DiQuattro
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    In his recent work, Robin Hahnel defends a monolithic metric of economic desert: to each according to effort or sacrifice. I criticize from an egalitarian standpoint this meritocratic distributive principle on theoretical, practical, and normative grounds. I also question his argument that in market socialism the allocation of labor cannot accommodate an egalitarian distribution of labor income; his not unfamiliar argument rests on a fatal theoretical error that conflates the allocative and distributive functions of market prices. I treat Hahnel’s work in the context of larger issues about competing concepts of justice and the distributive institutions that might suit them.JEL classification: A13, P1, P2

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    File URL: http://rrp.sagepub.com/content/43/4/523.abstract
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    Article provided by Union for Radical Political Economics in its journal Review of Radical Political Economics.

    Volume (Year): 43 (2011)
    Issue (Month): 4 (December)
    Pages: 523-539

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    Handle: RePEc:sae:reorpe:v:43:y:2011:i:4:p:523-539
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