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332:, preference development and institutional structures." The traditional socialist solution of public enterprise combined with centrally planned allocation was found equally lacking. In conclusion they argued that in clarifying the reasons why traditional models were deficient they had cleared a path that suggested probable directions for an alternative paradigm. The significant social and ecological inefficiencies of private enterprise
340:, and related variants, necessitated both the re-organization of production and consumption institutions and the search for compatible "allocative mechanisms that allow informed individual rationality to be fully consistent with social rationality." Their next step, the formulation of a relatively detailed "full" vision of an economy based upon participatory democratic planning was their attempt to provide an answer to this challenge.
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that "part of the reason pollution taxes improve efficiency in a market economy is that they discourage consumption of goods whose production requires pollution precisely by making those products more expensive for consumers." He recommends linking tax increases related to "bads" such as pollution to tax decreases on "goods" related to productive work, as exemplified by social security taxes. (The ABC's of
Political Economy, 272)
324:, was originally published by Princeton, but did not receive wide distribution. The underground interest in the book prompted its being made available online. They argued that traditional welfare economic theory was in an intractable crisis. The core approach that competitive markets produce social efficiency was yielding diminishing returns and "has thwarted, rather than facilitated, advances in analyses of the labour process,
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trade usually aggravates global inequality because terms of trade are set inequitably as a result of the dominant bargaining positions of northern countries, and thanks to class structures that ensure the costs and benefits of trade are distributed unfairly within countries. (see ABC's of
Political Economy, 176–207)
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Hahnel acknowledged core insights within comparative advantage theory, noting that "if opportunity costs of producing goods are different in different countries there are potential gains from specialization and trade." However, he explained that the potential gains are realized only under specific
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of natural resources using permit systems or regulatory "command and control" methods. An optimally efficient green tax requires taxing polluters an amount equal to external costs. Corporations can be expected to try to pass the extra costs on to consumers by raising prices; however, Hahnel notes
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due to significant externalities that cause misidentification of comparative advantages, unstable international markets that create macro inefficiencies, and adjustment costs of moving people in and out of industries that can be considerable. Moreover, in spite of
Ricardo's theory, international
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economy based on equitable cooperation. He has also written extensively on environmental economic issues, such as carbon trade and the formal Coase theorem. Links between his work on participatory economics and his research of economic justice and democracy, as well as environmental issues, are
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system. He argues that progress has been made toward a cap and trade system and should not be discarded, that such a system would foreground scientific and climatological expertise rather than economic expertise, and that such a system is much more achievable on an international level.
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As the nineties wore on, Hahnel became increasingly immersed in analysis of corporate-sponsored globalization, and actively participated in movements opposed to it. As disparate oppositional groups planned and unified for what were to be momentous demonstrations against the
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that was published in the anthology "Understanding
Capitalism: Critical Analysis from Karl Marx to Amartya Sen". There is a noticeable turn in his recent work towards consideration of mid-term strategies such as global
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was "Panic Rules". The book features concise analysis of crises due to financial liberalization in the era of globalization, a critique of the ideology and practices of global institutions such as the
374:. In ensuing years Hahnel and Albert fleshed out the gaps in their vision, discussed possible complementary political and cultural institutions, and replied to many of their critics.
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conditions, and expounded on the many real world factors that can account for significant efficiency losses. Among the most significant factors for efficiency losses from trade are
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at
American University. His ecological economic vision seeks to incorporate the ecological and social costs entailed in production, consumption, and distribution in the
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to ensure accurate price signals. Qualitative data can best be elucidated through the mechanisms of an inclusive and participatory democratic informational framework.
269:. Over the course of roughly three decades the duo would produce seven books together. Among the early writings was "Marxism and Socialist Theory" an evaluation of
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theory that emphasized what they believed were serious flaws. Albert and Hahnel argued that while those aspects of
Marxist theory rejecting the institutions of
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within an integrated framework of nested production and consumption councils that was proposed as an alternative to contemporary capitalism, centralized
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for each good. Because of the widely recognized difficulties of quantifying ecological and social costs, Hahnel emphasized the necessity of utilizing
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on participatory economics. He has done much work in academic oriented political economic theory. Notably, he wrote an essay analysing the works of
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emerged triumphant Albert and Hahnel published "The
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for many years and traveled extensively advising on economic matters all over the world. He is best known for his work on
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values and tendencies, were either partially or wholly flawed; and often constituted obstacles in the struggle for
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and markets were well-founded, other aspects of
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and organizations for forty years, notably as a participant in student movements opposed to the
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with M. Albert, Holly Sklar, Lydia
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From an international strategic perspective however, he has thrown his support behind a
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Throughout much of this time Hahnel had been teaching advanced courses in
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In terms of the current day ecological problems Hahnel acknowledges that
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Looking
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are likely to be more effective than alternative schemes such as the
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and living wage reforms while maintaining his long-term sights on a
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Of the people, By the people – The Case for a Participatory Economy
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Of the people, By the people – The Case for a Participatory Economy
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Economic Justice and Democracy: From Competition to Cooperation
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Economic Justice and Democracy: From Competition to Cooperation
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In recent years Hahnel has stopped publishing books with
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Early critiques: Orthodox Marxism and welfare economics
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Radical Political Economy: Sraffa versus Marx (2017)
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World Trade Organization meetings in Seattle in 1999
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