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The Economic Theory of Socialism

In: Vilfredo Pareto: An Intellectual Biography Volume II

Author

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  • Fiorenzo Mornati

    (University of Turin)

Abstract

After a period spent on critical study of the first volume of Marx’sMarx, Karl Das Kapital (Sect. 9.1), Pareto returned to his reflections on socialism in general (Reflections which he had already initiated earlier (Mornati, Vilfredo Pareto: An intellectual biography. Volume I. From science to liberty (1848–1891). Basingstoke: Palgrave Macmillan, 2018, pp. 163–166)), in sociological and ideological terms (Sect. 9.2) and in terms of economic theory (Sect. 9.3), reaching the categorical conclusion that in theory it was a system which answered to the requirements of economic efficiency but was in practice difficult to implement in the light of human intellectual and moral failings.

Suggested Citation

  • Fiorenzo Mornati, 2018. "The Economic Theory of Socialism," Palgrave Studies in the History of Economic Thought, in: Vilfredo Pareto: An Intellectual Biography Volume II, chapter 9, pages 221-235, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-030-04540-1_9
    DOI: 10.1007/978-3-030-04540-1_9
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