On the Workability of Market Socialism | Zendy

Pranab Bardhan | Zendy; John E. Roemer | Zendy

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On the Workability of Market Socialism

Author(s) -

Pranab Bardhan,

John E. Roemer

Publication year - 1994

Publication title -

the journal of economic perspectives

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 9.614

H-Index - 196

eISSN - 1944-7965

pISSN - 0895-3309

DOI - 10.1257/jep.8.2.177

Subject(s) - socialism , inefficiency , capitalism , economics , market socialism , state socialism , neoclassical economics , democracy , market economy , state (computer science) , keynesian economics , control (management) , economic system , political science , law , management , politics , mathematics , communism , algorithm

Contrary to the claim of Andrei Shleifer and Robert W. Vishny (1994), it is conceivable under market socialism to take firms out of the orbit of state control and that a less narrow theory of the state than theirs allows the possibility of democratic socialism mitigating problems of economic inefficiency better than capitalism.

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