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Market Socialism Is Not Market Capitalism

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  • Arthur DiQuattro

Abstract

In his recent work, Robin Hahnel defends a monolithic metric of economic desert: to each according to effort or sacrifice. I criticize from an egalitarian standpoint this meritocratic distributive principle on theoretical, practical, and normative grounds. I also question his argument that in market socialism the allocation of labor cannot accommodate an egalitarian distribution of labor income; his not unfamiliar argument rests on a fatal theoretical error that conflates the allocative and distributive functions of market prices. I treat Hahnel’s work in the context of larger issues about competing concepts of justice and the distributive institutions that might suit them.JEL classification: A13, P1, P2

Suggested Citation

  • Arthur DiQuattro, 2011. "Market Socialism Is Not Market Capitalism," Review of Radical Political Economics, Union for Radical Political Economics, vol. 43(4), pages 523-539, December.
    • Handle: RePEc:sae:reorpe:v:43:y:2011:i:4:p:523-539
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    More about this item

    Keywords

    market socialism; economic justice; income distribution theories; property-owning democracy;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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