Paul Mattick
... situation in the least, though hope springs eternal that it will slow the tempo of inflation. In reality supply and demand have nothing to do with the inflation, just as monopolistic price and wage policies are not causes of the inflation but its results. Inflation and deflation have always been for ...
... situation in the least, though hope springs eternal that it will slow the tempo of inflation. In reality supply and demand have nothing to do with the inflation, just as monopolistic price and wage policies are not causes of the inflation but its results. Inflation and deflation have always been for ...
The "Alternative" Socialism of Professor Alexander Tsankov
... production itself is vested with a central authority" (Schumpeter, 2008, p. 167). The main thesis of the author is that capitalism is doomed, because of its success and not because of its inherent problems. Still with the beginning of the socialist movement in Bulgaria at the end of the 19th century ...
... production itself is vested with a central authority" (Schumpeter, 2008, p. 167). The main thesis of the author is that capitalism is doomed, because of its success and not because of its inherent problems. Still with the beginning of the socialist movement in Bulgaria at the end of the 19th century ...
Household Production and the Household Economy
... sick, disabled and elderly people instead of professional care in hospitals and nursing homes. Taxation of paid labor helps drive these technology and policy changes. 4.2 Deficiencies in the National Statistics of Work and Production During the last half-century an almost unrecognized statistical re ...
... sick, disabled and elderly people instead of professional care in hospitals and nursing homes. Taxation of paid labor helps drive these technology and policy changes. 4.2 Deficiencies in the National Statistics of Work and Production During the last half-century an almost unrecognized statistical re ...
Austrian Economics—The Ultimate Achievement of an Intellectual
... calculation on that structure (as well as the effects of interventionism that are manifested in calculation, e.g. Austrian business cycle theory). It was truly a radical and ground-breaking intellectual accomplishment. However, the point that concerns this paper is the fact that there are two consti ...
... calculation on that structure (as well as the effects of interventionism that are manifested in calculation, e.g. Austrian business cycle theory). It was truly a radical and ground-breaking intellectual accomplishment. However, the point that concerns this paper is the fact that there are two consti ...
A closer look at the economic problem
... part of the potato production. For example, at D more fish (3 baskets) can be produced per day than at C but this means that fewer potatoes (70 kilograms) will be produced. In other words, 15 kilograms of potatoes have to be sacrificed to produce an extra basket of fish. By moving from C to D the co ...
... part of the potato production. For example, at D more fish (3 baskets) can be produced per day than at C but this means that fewer potatoes (70 kilograms) will be produced. In other words, 15 kilograms of potatoes have to be sacrificed to produce an extra basket of fish. By moving from C to D the co ...
Taking the `Social` in Socialism Seriously
... thus must sell their labor power on a labor market in order to obtain their livelihoods. Socialism is then defined in terms of the negation of one or more of these conditions. Since the pivot of the concept of capitalism is the private ownership of means of production, generally this has meant that ...
... thus must sell their labor power on a labor market in order to obtain their livelihoods. Socialism is then defined in terms of the negation of one or more of these conditions. Since the pivot of the concept of capitalism is the private ownership of means of production, generally this has meant that ...
Preindustrial Capitalist Forms
... calculations the non-agrarian (urban and semi-urban) population of Russia did not exceed 15% of the total population in 1897 (LCW Vol. 3, pp. 574, 582). By way of comparison, in 1891 the non-agrarian population of the USA represented 35.3% of the total, in France 37.4%, in Germany 47.0% (Sternberg 1 ...
... calculations the non-agrarian (urban and semi-urban) population of Russia did not exceed 15% of the total population in 1897 (LCW Vol. 3, pp. 574, 582). By way of comparison, in 1891 the non-agrarian population of the USA represented 35.3% of the total, in France 37.4%, in Germany 47.0% (Sternberg 1 ...
Socialism, growth and theory
... a mixed-economy or in a welfare state) as long as its primary concern is welfare maximization in the long-run (which can be simply modelled as a maximization of the discounted sum of present and future consumption), the final outcome should, at least theoretically, not be different than from a socie ...
... a mixed-economy or in a welfare state) as long as its primary concern is welfare maximization in the long-run (which can be simply modelled as a maximization of the discounted sum of present and future consumption), the final outcome should, at least theoretically, not be different than from a socie ...
Emerging Varieties of Capitalism in Transition Countries
... point of view, capitalism may be regarded as a specific type of economy that “must be based in an institutionalized social order by and into which it is formed and organized” [Streeck, 2010, p. 5]. The distinct characteristics of this system (e.g. private property, free markets, wage labor, joint-st ...
... point of view, capitalism may be regarded as a specific type of economy that “must be based in an institutionalized social order by and into which it is formed and organized” [Streeck, 2010, p. 5]. The distinct characteristics of this system (e.g. private property, free markets, wage labor, joint-st ...
Emerging Varieties of Capitalism in Transition Countries: Literature
... point of view, capitalism may be regarded as a specific type of economy that “must be based in an institutionalized social order by and into which it is formed and organized” [Streeck, 2010, p. 5]. The distinct characteristics of this system (e.g. private property, free markets, wage labor, joint-st ...
... point of view, capitalism may be regarded as a specific type of economy that “must be based in an institutionalized social order by and into which it is formed and organized” [Streeck, 2010, p. 5]. The distinct characteristics of this system (e.g. private property, free markets, wage labor, joint-st ...
Exploring Commons Theory for Principles of a Socialist
... economically efficient, politically democratic and just socialist society” (Franičević and Uvalić 2000: xxiii; also Ward 2000). The Yugoslav experiment with self-management after the break with the Soviet Union in 1948 is relevant for discussions on the future of socialism given that it was the only ...
... economically efficient, politically democratic and just socialist society” (Franičević and Uvalić 2000: xxiii; also Ward 2000). The Yugoslav experiment with self-management after the break with the Soviet Union in 1948 is relevant for discussions on the future of socialism given that it was the only ...
what is management
... c. Smith believed that freedom was vital to the survival of any economy. d. Also, he believed that people will work hard if they have incentives for doing so. Smith believed that businesspeople work primarily for their own prosperity. a. The INVISIBLE HAND is a phrase coined by Adam Smith to describ ...
... c. Smith believed that freedom was vital to the survival of any economy. d. Also, he believed that people will work hard if they have incentives for doing so. Smith believed that businesspeople work primarily for their own prosperity. a. The INVISIBLE HAND is a phrase coined by Adam Smith to describ ...
Socialism - Net Texts
... remunerated solely according to effort and sacrifice, so that those engaged in dangerous, uncomfortable, and strenuous work would receive the highest incomes and could thereby work less.[27] A contemporary model for a self-managed, non-market socialism is Pat Devine's model of negotiated coordinatio ...
... remunerated solely according to effort and sacrifice, so that those engaged in dangerous, uncomfortable, and strenuous work would receive the highest incomes and could thereby work less.[27] A contemporary model for a self-managed, non-market socialism is Pat Devine's model of negotiated coordinatio ...
From Anti-equilibrium to The Socialist System and Beyond Péter
... Later on, beside the Austrian school, new institutional economics and political economy were developed. All these disciplines study the institutional aspects of economic action without giving up their aspiration for an analytical theory. This research perspective is embraced by János Kornai in his ...
... Later on, beside the Austrian school, new institutional economics and political economy were developed. All these disciplines study the institutional aspects of economic action without giving up their aspiration for an analytical theory. This research perspective is embraced by János Kornai in his ...
Viability, Transition, and Reflections on Neoclassical Economics
... shock therapy, and why, at the same time, were they pessimistic about China’s prospects? As pointed out by Murrell (1995) and Stiglitz (1999) and others, these economists did not fully understand the history or the mechanisms behind a planned economy, nor did they understand the essence of economic ...
... shock therapy, and why, at the same time, were they pessimistic about China’s prospects? As pointed out by Murrell (1995) and Stiglitz (1999) and others, these economists did not fully understand the history or the mechanisms behind a planned economy, nor did they understand the essence of economic ...
The economic problem of a community - FEP
... mathematically, with demand and production functions. Dickinson states that the problem is not even one of solving simultaneous equations but merely of calculating “small deviations from an already established equilibrium” (p. 242). After Robbins’ ( 1934: 151) and Hayek’s (1935: 152ff) criticisms th ...
... mathematically, with demand and production functions. Dickinson states that the problem is not even one of solving simultaneous equations but merely of calculating “small deviations from an already established equilibrium” (p. 242). After Robbins’ ( 1934: 151) and Hayek’s (1935: 152ff) criticisms th ...
Basic Economic Problems
... The second question is how to produce. Due to scarcity, resources should be used efficiently. Economists use the term labour intensive and capital intensive to describe alternative methods. In labour intensive method more of the labour is used and less of the capital. Such methods are used in those ...
... The second question is how to produce. Due to scarcity, resources should be used efficiently. Economists use the term labour intensive and capital intensive to describe alternative methods. In labour intensive method more of the labour is used and less of the capital. Such methods are used in those ...
TOWARD A SOCIALISM FOR THE FUTURE: IN THE
... 6. Communitarian socialists include Marxists who identify with Marx's long-run vision of a truly communist society a s well a s "new Leftists" who reject many elements of the Marxist tradition. One of the best known exponents of this school of thought in the United States is Noam Chomsky; for a deta ...
... 6. Communitarian socialists include Marxists who identify with Marx's long-run vision of a truly communist society a s well a s "new Leftists" who reject many elements of the Marxist tradition. One of the best known exponents of this school of thought in the United States is Noam Chomsky; for a deta ...
Planning in Cuba Today - The University of Utah
... The emerging new economic structure of Cuba, to the contrary, “will favor, furthermore, achieving a definitive solution to the insufficient participation of the workers in the tasks of planning.” (Ibid., 27). The new enterprise-governing regulations specifically call for the development of worker p ...
... The emerging new economic structure of Cuba, to the contrary, “will favor, furthermore, achieving a definitive solution to the insufficient participation of the workers in the tasks of planning.” (Ibid., 27). The new enterprise-governing regulations specifically call for the development of worker p ...
Block I - Madhya Pradesh Bhoj Open University
... ownership and management of some of the means of production for national or social objectives). For some states, there is not a consensus on whether they are capitalist, socialist, or mixed economies. Economies ranging from the United States to Cuba have been termed mixed economies. The mixed econom ...
... ownership and management of some of the means of production for national or social objectives). For some states, there is not a consensus on whether they are capitalist, socialist, or mixed economies. Economies ranging from the United States to Cuba have been termed mixed economies. The mixed econom ...
Property-Owning Democracy or Economic Democracy?
... The reader will note that Rawls's description of the regulatory institutions he is proposing as being "familiar" suggests a defense of the welfare state. However, he does say a few pages later that "the aim of the branches of government is to establish a democratic regime in which land and capital a ...
... The reader will note that Rawls's description of the regulatory institutions he is proposing as being "familiar" suggests a defense of the welfare state. However, he does say a few pages later that "the aim of the branches of government is to establish a democratic regime in which land and capital a ...
- The International Institute of Social and Economic
... The State budget in socialist economies provided three basic functions – distribution, control and stimulation (Kyzlink 1989b). Since revealing that direct budget financing by lending from the central banking authority can create uncontrollable inflationary spiral, there was a political pressure to ...
... The State budget in socialist economies provided three basic functions – distribution, control and stimulation (Kyzlink 1989b). Since revealing that direct budget financing by lending from the central banking authority can create uncontrollable inflationary spiral, there was a political pressure to ...
Socialist alternatives to capitalism II: Vienna to Santa Fe
... resources as society changes and evolves. It is possible to imagine capitalallocating institutions that would permit the free formation of new enterprises and hence a substantial degree of competition. Worker cooperatives, as producers of commodities, can co-exist with (and compete with) capitalist ...
... resources as society changes and evolves. It is possible to imagine capitalallocating institutions that would permit the free formation of new enterprises and hence a substantial degree of competition. Worker cooperatives, as producers of commodities, can co-exist with (and compete with) capitalist ...
Ten Years After `The Road to a Free Economy`
... 2. The main technique for privatization is some form of give-away, for instance a voucher scheme, whereby the property rights in state-owned companies to be privatized are distributed free and equally among the country’s citizens. This approach may be linked with toleration or even encouragement for ...
... 2. The main technique for privatization is some form of give-away, for instance a voucher scheme, whereby the property rights in state-owned companies to be privatized are distributed free and equally among the country’s citizens. This approach may be linked with toleration or even encouragement for ...
The Socialist Calculation Debate moving forward: What hap
... the value of their potential use elsewhere; “calculation in terms of money will here be impossible” he says (1920: 92). The reason this is so important for Mises rests on how capitalist producers find out how rather than what to produce: It is not a question of whether there shall be produced cannon ...
... the value of their potential use elsewhere; “calculation in terms of money will here be impossible” he says (1920: 92). The reason this is so important for Mises rests on how capitalist producers find out how rather than what to produce: It is not a question of whether there shall be produced cannon ...