Journal of Economic Perspectives
ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)
On the Workability of Market Socialism
Journal of Economic Perspectives
(pp. 177–181)
(Complimentary)
Abstract
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.Citation
Bardhan, Pranab, and John E. Roemer. 1994. "On the Workability of Market Socialism." Journal of Economic Perspectives 8 (2): 177–181. DOI: 10.1257/jep.8.2.177JEL Classification
- P26 Socialist Systems and Transitional Economies: Political Economy; Property Rights
- P23 Socialist Systems and Transitional Economies: Factor and Product Markets; Industry Studies; Population