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Pseudocode and Algorithms for Computer Simulations of Democratically Planned Economies

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  • Mitchell Szczepanczyk

    (OpenMarkets, Inc., Chicago, USA)

Abstract

The claim that “there is no third way” besides the economic models of capitalism and communism has faced a challenge from a new and growing body of research into a “third way” economic paradigm known as democratic planning. In this paper, we explore one of these democratic planning models–Robin Hahnel and Michael Albert’s model of a participatory economy, focusing in particular on its allocation mechanism–a non-market, non-command-planning procedure known as “participatory planning.” This procedure has recently been implemented in computer programs to explore its feasibility, the encouraging results of which have been published elsewhere and which we summarize here. But I present here for the first time the detailed algorithms and related pseudocode powering all of these computer programs for others to consider, examine, and build as their own programs. I also describe future directions for this avenue of research.

Suggested Citation

  • Mitchell Szczepanczyk, 2023. "Pseudocode and Algorithms for Computer Simulations of Democratically Planned Economies," Journal of Information Economics, Anser Press, vol. 1(3), pages 43-54, October.
    • Handle: RePEc:bba:j00008:v:1:y:2023:i:3:p:43-54:d:240
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    Cited by:

    1. Siyu Ren & Mingyue Du, 2024. "Will Green Finance Become a New Driving Force for Environmental Governance in The Post-Covid-19 Era: Evidence from China," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 27(1), pages 151-166, March.

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