IDEAS home Printed from https://ideas.repec.org/a/ids/ijplur/v3y2012i1p104-111.html
   My bibliography  Save this article

Scarcity, capitalism and the promise of economic democracy

Author

Listed:
  • Costas Panayotakis

Abstract

This article critically examines scarcity, a foundational concept of neoclassical economics. It argues that class inequalities and the pursuit of profit shape the configurations of scarcity faced by individuals and groups in today's society. These configurations are made up of socially constructed material wants (the demand side) and of unequally distributed resources (the supply side). Against neoclassical economics, the article argues that capitalism cannot manage scarce resources in accordance with human well-being and the ecological integrity of the planet. Only an economically democratic society that allows all people to have equal say over the way economic life becomes organised can do so.

Suggested Citation

  • Costas Panayotakis, 2012. "Scarcity, capitalism and the promise of economic democracy," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 3(1), pages 104-111.
    • Handle: RePEc:ids:ijplur:v:3:y:2012:i:1:p:104-111
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=47473
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. James K. Boyce, 2002. "The Political Economy of the Environment," Books, Edward Elgar Publishing, number 2080.
    2. John E. Roemer, 1994. "A Future for Socialism," Politics & Society, , vol. 22(4), pages 451-478, December.
    3. Dasgupta, Partha, 2007. "Economics: A Very Short Introduction," OUP Catalogue, Oxford University Press, number 9780192853455.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Daoud, Adel, 2018. "Unifying Studies of Scarcity, Abundance, and Sufficiency," Ecological Economics, Elsevier, vol. 147(C), pages 208-217.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Robin Hahnel, 2017. "Wanted: A Pollution Damage Revealing Mechanism," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(2), pages 233-246, June.
    2. Eloi Laurent & Jean Jouzel, 2018. "The Well-being Transition: Measuring what counts to protect what matters," SciencePo Working papers Main hal-03458057, HAL.
    3. Peter Zweifel & H. E. Frech, 2016. "Why ‘Optimal’ Payment for Healthcare Providers Can Never be Optimal Under Community Rating," Applied Health Economics and Health Policy, Springer, vol. 14(1), pages 9-20, February.
    4. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    5. Eloi Laurent, 2015. "Social-Ecology : exploring the missing link in sustainable development," SciencePo Working papers Main hal-01136326, HAL.
    6. Stefani, Gianluca & Lombardi, Ginevra Virginia & Romano, Donato & Cei, Leonardo, 2017. "Grass Root Collective Action for Territorially Integrated Food Supply Chains: A Case Study from Tuscany," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 8(4), October.
    7. repec:hal:spmain:info:hdl:2441/7cu18nukj78u8bq89s295bup4f is not listed on IDEAS
    8. Gaetano Cuomo, 2011. "NOTE BIBLIOGRAFICHE: JOSSA B. (2010), Esiste un'alternativa al capitalismo? L'impresa democratica e l'attualitá del marxismo, Manifestolibri, Roma," Moneta e Credito, Economia civile, vol. 64(254), pages 177-180.
    9. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2022. "Computational methods and classical‐Marxian economics," Journal of Economic Surveys, Wiley Blackwell, vol. 36(2), pages 310-349, April.
    10. Vasile-Petru Hategan, 2021. "Promoting the Eco-Dialogue through Eco-Philosophy for Community," Sustainability, MDPI, vol. 13(8), pages 1-19, April.
    11. Jin, Zhangfeng, 2021. "The Legacies of the Soviet Influence in the 1950s: China's 156 Major Industrial Projects," GLO Discussion Paper Series 932, Global Labor Organization (GLO).
    12. Stefani, G. & Lombardi, G.V. & Romano, D. & Cei, L., 2017. "Green Root Collective Action for Conservation of Agri-Bio Diversity: a Case Study in Tuscany," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 2017(1), June.
    13. Christopher Wonnell, 1998. "Roemer and Market Socialism," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 37-46.
    14. repec:spo:wpmain:info:hdl:2441/f6h8764enu2lskk9p4a36i6c0 is not listed on IDEAS
    15. Gaetano Cuomo, 2015. "Imprese cooperative e democrazia economica," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2015(116), pages 5-38.
    16. Paul Cantor, 1996. "To Privatize or Not to Privatize: That is the Question; What is the Answer?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 28(1), pages 96-111, March.
    17. H. E. Frech & Peter Zweifel, 2017. "Market Socialism and Community Rating in Health Insurance," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 59(3), pages 405-427, September.
    18. Sujian Guo, 2005. "Designing Market Socialism: Trustees of State Property," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 8(3), pages 207-224.
    19. Frank Götmark & Malte Andersson, 2023. "Achieving sustainable population: Fertility decline in many developing countries follows modern contraception, not economic growth," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(3), pages 1606-1617, June.
    20. Douglas W MacKenzie, 2018. "Social Dividends, Entrepreneurial Discretion, and Bureaucratic Rules," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 44(1), pages 30-48, January.
    21. Paul Ehrlich, 2011. "A personal view: environmental education—its content and delivery," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 1(1), pages 6-13, March.
    22. Michael Howard, 2005. "Basic income, liberal neutrality, socialism, and work," Review of Social Economy, Taylor & Francis Journals, vol. 63(4), pages 613-631.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijplur:v:3:y:2012:i:1:p:104-111. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=319 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.