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Stable Jobs or iPhones? The Dilemma of Innovation in Socialism

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  • Mihnea Tudoreanu
  • David M. Kotz

Abstract

Perhaps the greatest strength of capitalism has been its ability to promote sustained technological progress. A viable socialism must also promote sustained technological progress while avoiding the problems associated with technological change under capitalism. Socialism faces a fundamental dilemma regarding technological change and job security in that technological progress is inherently disruptive. As old technologies are superseded, product lines become obsolete, production processes are changed, and certain kinds of jobs are no longer needed. Thus, technological progress creates insecurity for jobholders. Even with an employment guarantee, the loss of one’s job may require retraining, changing careers, or moving to a new location. In this paper, we propose means for promoting technological advance under planned socialism while also providing meaningful employment security.

Suggested Citation

  • Mihnea Tudoreanu & David M. Kotz, 2020. "Stable Jobs or iPhones? The Dilemma of Innovation in Socialism," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(4), pages 642-649, December.
    • Handle: RePEc:sae:reorpe:v:52:y:2020:i:4:p:642-649
    DOI: 10.1177/0486613420947825
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    Cited by:

    1. Emilio Carnevali & André Pedersen Ystehede, 2023. "Is socialism back? A review of contemporary economic literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 239-270, April.

    More about this item

    Keywords

    socialism; innovation; democratic planning;
    All these keywords.

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems

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