IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/117919.html
   My bibliography  Save this paper

On the Takeover Mechanism in Market Socialism

Author

Listed:
  • Carnevali, Emilio
  • Sommacal, Matteo

Abstract

In the three decades since the collapse of the Soviet Union, the notion of socialism has been swept into almost total disrepute. The more recent economic literature, however, has shown a resurgence of interest in the concept of socialism, albeit on very different theoretical grounds than in the past. This article investigates the reasons for the socialist movement's historical distrust of the development of "well-defined" economic projects. This attitude seems to have disappeared in contemporary "socialist projects". The article also discusses the Shareholder Socialism proposal developed by economist Giacomo Corneo and proposes a different mathematical formulation of the mechanism through which the takeover of private industries by the public sector should be conducted.

Suggested Citation

  • Carnevali, Emilio & Sommacal, Matteo, 2023. "On the Takeover Mechanism in Market Socialism," MPRA Paper 117919, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:117919
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/117919/1/CarnevaliSommacal_working%20paper.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Barry Naughton, 2017. "Is China Socialist?," Journal of Economic Perspectives, American Economic Association, vol. 31(1), pages 3-24, Winter.
    2. Roland Boer, 2023. "Socialism and the Market: Returning to the East European Debate," New Political Economy, Taylor & Francis Journals, vol. 28(1), pages 1-12, January.
    3. Giacomo CORNEO, 2018. "Public Stock Ownership," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(1), pages 11-24, March.
    4. John E. Roemer, 1992. "Can there be Socialism after Communism?," Politics & Society, , vol. 20(3), pages 261-276, September.
    5. Giacomo Corneo, 2019. "Some institutional design for shareholder socialism," Review of Social Economy, Taylor & Francis Journals, vol. 77(1), pages 33-55, January.
    6. John E. Roemer, 1994. "A Future for Socialism," Politics & Society, , vol. 22(4), pages 451-478, December.
    7. Emilio Carnevali & André Pedersen Ystehede, 2023. "Is socialism back? A review of contemporary economic literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 239-270, April.
    Full references (including those not matched with items on IDEAS)

    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. Emilio Carnevali & Matteo Sommacal, 2024. "On the takeover mechanism in market socialism," Journal of Economics, Springer, vol. 141(3), pages 223-243, April.
    2. Christopher Wonnell, 1998. "Roemer and Market Socialism," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 37-46.
    3. Emilio Carnevali & André Pedersen Ystehede, 2023. "Is socialism back? A review of contemporary economic literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 239-270, April.
    4. Clemens Fuest & Christa Hainz & Volker Meier & Martin Werding, 2019. "Staatsfonds für eine effiziente Altersvorsorge: Welche innovativen Lösungen sind möglich?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(14), pages 03-08, July.
    5. 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.
    6. 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.
    7. 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.
    8. Lei, Zhenhuan & Nugent, Jeffrey B., 2018. "Coordinating China's economic growth strategy via its government-controlled association for private firms," Journal of Comparative Economics, Elsevier, vol. 46(4), pages 1273-1293.
    9. Gaetano Cuomo, 2015. "Imprese cooperative e democrazia economica," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2015(116), pages 5-38.
    10. 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.
    11. 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.
    12. Zhu, Jun & Xu, Haokun & Zhang, Yue, 2022. "Local government debt and firm productivity: Evidence from China," Research in International Business and Finance, Elsevier, vol. 63(C).
    13. Thomas Piketty & Li Yang & Gabriel Zucman, 2019. "Capital Accumulation, Private Property, and Rising Inequality in China, 1978–2015," American Economic Review, American Economic Association, vol. 109(7), pages 2469-2496, July.
    14. Rod Tyers & Yixiao Zhou, 2019. "Financial integration and the global effects of China's growth surge," CAMA Working Papers 2019-09, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    15. Kaushik Basu, 2016. "Beyond the Invisible Hand: Groundwork for a New Economics," Economics Books, Princeton University Press, edition 1, number 9299.
    16. Shahriar, Saleh & Qian, Lu & Kea, Sokvibol, 2018. "China's economic integration with the Greater Mekong Sub-region: An empirical analysis by a panel dynamic gravity model," Economics Discussion Papers 2018-44, Kiel Institute for the World Economy (IfW Kiel).
    17. Benoît Walraevens, 2023. "Ideologies and Utopia: A Ricoeurian Reading of Thomas Piketty," Post-Print hal-04195650, HAL.
    18. Sujian Guo & Gary A. Stradiotto, 2007. "The Nature and Direction of Economic Reform in North Korea," Political Studies, Political Studies Association, vol. 55(4), pages 754-778, December.
    19. François Facchini & Mickael Melki, 2021. "Egalitarianism and the democratic deconsolidation: Is democracy compatible with socialism?," Public Choice, Springer, vol. 186(3), pages 447-465, March.
    20. James Yunker, 2007. "A Comprehensive Incentives Analysis of the Potential Performance of Market Socialism," Review of Political Economy, Taylor & Francis Journals, vol. 19(1), pages 81-113.

    More about this item

    Keywords

    Market Socialism; Nationalization; Economic Systems;
    All these keywords.

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • H1 - Public Economics - - Structure and Scope of Government

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:pra:mprapa:117919. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.