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On the Takeover Mechanism in Market Socialism

Author

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  • Carnevali, Emilio
  • Sommacal, Matteo

Abstract

In the three decades since the collapse of the Soviet Union, the notion of socialism has been swept into almost total disrepute. The more recent economic literature, however, has shown a resurgence of interest in the concept of socialism, albeit on very different theoretical grounds than in the past. This article investigates the reasons for the socialist movement's historical distrust of the development of "well-defined" economic projects. This attitude seems to have disappeared in contemporary "socialist projects". The article also discusses the Shareholder Socialism proposal developed by economist Giacomo Corneo and proposes a different mathematical formulation of the mechanism through which the takeover of private industries by the public sector should be conducted.

Suggested Citation

  • Carnevali, Emilio & Sommacal, Matteo, 2023. "On the Takeover Mechanism in Market Socialism," MPRA Paper 117919, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:117919
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    References listed on IDEAS

    as
    1. Barry Naughton, 2017. "Is China Socialist?," Journal of Economic Perspectives, American Economic Association, vol. 31(1), pages 3-24, Winter.
    2. Roland Boer, 2023. "Socialism and the Market: Returning to the East European Debate," New Political Economy, Taylor & Francis Journals, vol. 28(1), pages 1-12, January.
    3. Giacomo CORNEO, 2018. "Public Stock Ownership," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(1), pages 11-24, March.
    4. John E. Roemer, 1992. "Can there be Socialism after Communism?," Politics & Society, , vol. 20(3), pages 261-276, September.
    5. Giacomo Corneo, 2019. "Some institutional design for shareholder socialism," Review of Social Economy, Taylor & Francis Journals, vol. 77(1), pages 33-55, January.
    6. John E. Roemer, 1994. "A Future for Socialism," Politics & Society, , vol. 22(4), pages 451-478, December.
    7. 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.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Market Socialism; Nationalization; Economic Systems;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • H1 - Public Economics - - Structure and Scope of Government

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