Premium
A Market Policy for Socialists?
Author(s) -
Forbes Ian
Publication year - 1987
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.1987.tb01888.x
Subject(s) - pluralism (philosophy) , socialism , politics , free market , market economy , economics , market system , state (computer science) , law and economics , neoclassical economics , economic system , political science , political economy , law , philosophy , mathematics , communism , epistemology , algorithm
Socialists ought to welcome the efficiency and freedom of choice that markets bring, and be wary of the deficiencies of the state, according to lan Forbes, lecturer in Politics at Southampton University. But the freedom of choice claimed by the ‘New Right’ thinkers for their economic system would itself be attenuated by the operation of markets. Market socialism thus requires an institutional pluralism of both market and non‐market elements.