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Roemer and Market Socialism

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  • Christopher Wonnell

Abstract

Professor John Roemer has defended a future market socialist order. His model would encompass an egalitarian coupon market for the ownership of firm shares, a private sector for firms below a certain size, a system of public bank loans for the raising of capital, and an industrial policy of differential interest rates for various economic sectors. This paper argues that such a model would generate perverse incentives for firms, shareholders, public officials, and private entrepreneurs. It also argues that Roemer's contention that such a model would produce a more environmentally sensitive polity is problematic.

Suggested Citation

  • Christopher Wonnell, 1998. "Roemer and Market Socialism," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 37-46.
    • Handle: RePEc:taf:rsocec:v:56:y:1998:i:1:p:37-46
    DOI: 10.1080/00346769800000003
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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. John E. Roemer, 1992. "Can there be Socialism after Communism?," Politics & Society, , vol. 20(3), pages 261-276, September.
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