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Socialist alternatives to capitalism II: Vienna to Santa Fe

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  • Duncan Foley

    (Department of Economics, New School for Social Research)

Abstract

Optimal control theory and information technology provide tools with the capacity to implement top-down centralized allocation of resources in complex economies organized through a social division of labor. Twentieth century political and systems thinking, however, emphasize the virtues of bottom-up spontaneously organized systems. Workers’ control can be analyzed as one variety of bottom-up spontaneous organization. Another is peer production, as in the case of open-source software. A model of peer production under the name Lifenet provides some insights into the advantages and limitations of this approach to socialism.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Duncan Foley, 2017. "Socialist alternatives to capitalism II: Vienna to Santa Fe," Working Papers 1706, New School for Social Research, Department of Economics.
    • Handle: RePEc:new:wpaper:1706
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    References listed on IDEAS

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    1. Foley, Duncan K., 2010. "What's wrong with the fundamental existence and welfare theorems?," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 115-131, August.
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Altruismo, incentivi e informazione: due o tre cose che so sull’esperienza socialista
      by Sergio Cesaratto in Politica&EconomiaBlog on 2017-11-26 14:19:00

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