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  3. Journal of Economic Perspectives
  4. Spring 1994
  5. On the Workability of Market Socialism

Journal of Economic Perspectives

ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)

On the Workability of Market Socialism

  • Pranab Bardhan
  • John E. Roemer
Journal of Economic Perspectives
vol. 8, no. 2, Spring 1994
(pp. 177–181)
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Abstract

Contrary to the claim of Andrei Shleifer and Robert W. Vishny (1994), it is conceivable under market socialism to take firms out of the orbit of state control and that a less narrow theory of the state than theirs allows the possibility of democratic socialism mitigating problems of economic inefficiency better than capitalism.

Citation

Bardhan, Pranab, and John E. Roemer. 1994. "On the Workability of Market Socialism." Journal of Economic Perspectives, 8 (2): 177–181. DOI: 10.1257/jep.8.2.177

JEL Classification

  • P26 Socialist Systems and Transitional Economies: Political Economy; Property Rights
  • P23 Socialist Systems and Transitional Economies: Factor and Product Markets; Industry Studies; Population
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