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On the Workability of Market Socialism

Author

Listed:
  • Pranab Bardhan
  • John E. Roemer

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.

Suggested Citation

  • Pranab Bardhan & John E. Roemer, 1994. "On the Workability of Market Socialism," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 177-181, Spring.
    • Handle: RePEc:aea:jecper:v:8:y:1994:i:2:p:177-81
    Note: DOI: 10.1257/jep.8.2.177
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.8.2.177
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    References listed on IDEAS

    as
    1. John E. Roemer, 1994. "A Future for Socialism," Politics & Society, , vol. 22(4), pages 451-478, December.
    2. Pranab Bardhan & John E. Roemer, 1992. "Market Socialism: A Case for Rejuvenation," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 101-116, Summer.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Jael, Paul, 2015. "Socialist Calculation and Market Socialism," MPRA Paper 64255, University Library of Munich, Germany.
    2. Dic Lo & Russell Smyth, 2004. "Towards a re-interpretation of the economics of feasible socialism," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(6), pages 791-808, November.
    3. Petrik Runst, 2016. "Giacomo Corneo, Bessere Welt. Berlin, Germany: Goldegg Verlag, 2014. 368 Pages. 24,90 € (hardcover)," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(1), pages 99-102, March.
    4. Jael, Paul, 2018. "Calcul socialiste et socialisme de marché [Socialist Calculation and Market Socialism]," MPRA Paper 89521, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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