Socialist economics

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depreciation, so there was no profit margin in the price charged to customers. Wages did not reflect the purchase price of labour, since labour was not a commodity traded in a market and the employing organizations did not own the means of production. Wages were set at a level that permitted a decent standard of living; they rewarded specialist skills and educational qualifications. In macroeconomic terms, the plan allocated the whole national product to workers in the form of wages for the workers' own use, with a fraction withheld for investment and for imports from abroad. The difference between the average value of wages and the value of national output per worker did not imply the existence of surplus value since it was part of a consciously formulated plan for the development of society. The presence of inequality in the socialist planned economies did not imply that an exploiting class existed. In the Soviet Union, communist-party members were able to buy scarce goods in special shops and the leadership elite took advantage of state property to live in more spacious accommodation - and sometimes in luxury. Although they received privileges not commonly available and some additional income in kind, there was no difference in their official remuneration in comparison to their non-party peers. Enterprise managers and workers received only the wages and bonuses related to the production targets that the planning authorities had set. Outside of the cooperative sector - which enjoyed greater economic freedoms and whose profits were shared among all members of the cooperative - there was no profit-taking class. Other analysts maintain that workers in the Soviet Union and in other Marxist–Leninist states had genuine control over the means of production through institutions such as

4395:, which argued that socialism can be built in a single country, despite existing within a global capitalist economic system. Nevertheless, the Soviet orthodoxy held that the stage during which developed socialism would be built would be a lengthy one and would not be achieved by the Soviet Union on its own. According to the official textbooks, the first stage of the transition period from capitalism to socialism had been completed by the 1970s in the European socialist countries (except Poland and Yugoslavia) and in Mongolia and Cuba. The next stage of developed socialism would not be reached until "the economic integration of the socialist states becomes a major factor of their economic progress" and social relations had been reconstructed on "collectivist principles". Communist writers accepted that during the earlier stages in constructing socialism the exchange of commodities on the basis of the average socially necessary labour embodied within them occurred and involved the mediation of money. Socialist planned economies were systems of commodity production, but this was directed in a conscious way towards meeting the needs of the people and not left to the "anarchy of the market". At the stage of developed socialism, "the state of dictatorship of the proletariat changes into a state of all people reflecting the increasing homogeneity of society" and the "evening out of economic development levels" within and between socialist countries. It would provide the foundations for a further stage of perfected socialist society, where an abundance of goods permitted their distribution according to need. Only then could the world socialist system progress towards the higher phase of 5676:. "More fundamentally, a socialist society must be one in which the economy is run on the principle of the direct satisfaction of human needs. Exchange-value, prices and so money are goals in themselves in a capitalist society or in any market. There is no necessary connection between the accumulation of capital or sums of money and human welfare. Under conditions of backwardness, the spur of money and the accumulation of wealth has led to a massive growth in industry and technology. It seems an odd argument to say that a capitalist will only be efficient in producing use-value of a good quality when trying to make more money than the next capitalist. It would seem easier to rely on the planning of use-values in a rational way, which because there is no duplication, would be produced more cheaply and be of a higher quality. Although money, and so monetary calculation, will disappear in socialism this does not mean that there will no longer be any need to make choices, evaluations and calculations. Wealth will be produced and distributed in its natural form of useful things, of objects that can serve to satisfy some human need or other. Not being produced for sale on a market, items of wealth will not acquire an exchange-value in addition to their use-value. In socialism their value, in the normal non-economic sense of the word, will not be their selling price nor the time needed to produce them but their usefulness. It is for this that they will be appreciated, evaluated, wanted and produced."" 3001:: capitalist production is the production of "an immense multitude of commodities" or generalised commodity production. A commodity has two essential qualities firstly, they are useful, they satisfy some human want, "the nature of such wants, whether, for instance, they spring from the stomach or from fancy, makes no difference" and secondly they are sold on a market or exchanged. Critically the exchange value of a commodity "is independent of the amount of labour required to appropriate its useful qualities". However, rather depends on the amount of socially necessary labour required to produce it. All commodities are sold at their value, so the origin of the capitalist profit is not in cheating or theft, but in the fact that the cost of reproduction of labour power, or the worker's wage, is less than the value created during their time at work, enabling the capitalists to yield a surplus value or profit on their investments. 4543:

USSR and upon the Soviet market for sales of goods. The decline in growth rates reflected a combination of diminishing returns to capital accumulation and low innovation as well as micro-economic inefficiencies, which a high rate of saving and investment was unable to counter. The CMEA was supposed to ensure coordination of national plans but it failed even to develop a common methodology for planning which could be adopted by its member states. As each member state was reluctant to give up national self-sufficiency the CMEA's efforts to encourage specialization was thwarted. There were very few joint ventures and therefore little intra-enterprise technology transfer and trade, which in the capitalist world was often undertaken by trans-national corporations. The International Bank for Economic Cooperation had no means of converting a country's trade surplus into an option to buy goods and services from other CMEA members.

9086:. "The scholars in camp of democratic socialism believe that China should draw on the Sweden experience, which is suitable not only for the West but also for China. In the post-Mao China, the Chinese intellectuals are confronted with a variety of models. The liberals favor the American model and share the view that the Soviet model has become archaic and should be totally abandoned. Meanwhile, democratic socialism in Sweden provided an alternative model. Its sustained economic development and extensive welfare programs fascinated many. Numerous scholars within the democratic socialist camp argue that China should model itself politically and economically on Sweden, which is viewed as more genuinely socialist than China. There is a growing consensus among them that in the Nordic countries the welfare state has been extraordinarily successful in eliminating poverty." 6724:, by Horvat, Branko. 1982. (p. 197): "The sandglass (socialist) model is based on the observation that there are two fundamentally different spheres of activity or decision making. The first is concerned with value judgments, and consequently each individual counts as one in this sphere. In the second, technical decisions are made on the basis of technical competence and expertise. The decisions of the first sphere are policy directives; those of the second, technical directives. The former are based on political authority as exercised by all members of the organization; the latter, on professional authority specific to each member and growing out of the division of labor. Such an organization involves a clearly defined coordinating hierarchy but eliminates a power hierarchy." 4069: method of achieving plan coherence was later complemented and replaced by value planning, with money provided to enterprises so that they could recruit labour and procure materials and intermediate production goods and services. The Soviet economy was brought to balance by the interlocking of three sets of calculation, namely the setting up of a model incorporating balances of production, manpower and finance. The exercise was undertaken annually and involved a process of iteration (the "method of successive approximation"). Although nominally a "centrally planned" economy, in reality formulation of the plan took place on a more local level of the production process as information was relayed from enterprises to planning ministries. Aside from the Soviet Union and 4531:, was constrained by its resources not by the demand for its goods and services; nor was it constrained by its finances since the government was not likely to shut it down if it failed to meet its financial targets. Enterprises in socialist planned economies operated within a "soft" budget constraint, unlike enterprises in capitalist market economies which are demand-constrained and operate within "hard" budget constraints, as they face bankruptcy if their costs exceed their sales. As all producers were working in a resource-constrained economy they were perpetually in short supply and the shortages could never be eliminated, leading to chronic disruption of production schedules. The effect of this was to preserve a high level of employment. 4443:, put forward proposals for establishing an integrated, centrally-planned socialist commonwealth in which each geographic region would specialize production in line with its set of natural and human resources. The resulting document, the "Basic Principles of the International Socialist Division of Labour" was adopted at the end of 1961, despite objections from Romania on certain aspects. The "Basic Principles" were never implemented fully and were replaced in 1971 by the adoption of the "Comprehensive Programme for Further Extension and Improvement of Cooperation and Development of Socialist Economic Integration". As a result, many specialization agreements were made between CMEA member states for investment programmes and 4497:

CEE/CIS area in the period 1985–1990 was 68 years, while for the countries of the Organization for Economic Cooperation and Development (OECD) it was 75 years. Infant mortality in the CEE/CIS area was 25 for every 1,000 live births in 1990, compared to 13 in the OECD area. In terms of education, the two areas enjoyed universal adult literacy and full enrolment of children in primary and secondary schools. For tertiary education, the CEE/CIS had 2,600 university students per 100,000 population, while in the OECD the comparable figure was 3,550 students. Overall enrolment at primary, secondary and tertiary levels was 75 percent in the CEE/CIS region and 82 percent in the OECD countries.

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though not all were allies of the Soviet Union: Afghanistan, Albania, Angola, Bulgaria, Cambodia, China, Cuba, Czechoslovakia, Eastern Germany, Ethiopia, Hungary, Mozambique, Nicaragua, North Korea, Laos, Mongolia, Poland, Romania, Vietnam, South Yemen, Yugoslavia and the Soviet Union. The system co-existed alongside the world capitalist system but was founded upon the principles of cooperation and mutual assistance rather than upon competition and rivalry. The countries involved aimed to even-out the level of economic development and to play an equal part in the international division of labour. An important role was played by the Council for Mutual Economic Assistance (CMEA) or

2744:'s classic account, the forceful transformation of land, money and especially labour into commodities to be allocated by an autonomous market mechanism was an alien and inhuman rupture of the pre-existing social fabric. Marx had viewed the process in a similar light, referring to it as part of the process of "primitive accumulation" whereby enough initial capital is amassed to begin capitalist production. The dislocation that Polyani and others describe, triggered natural counter-movements in efforts to re-embed the economy in society. These counter-movements, that included, for example, the 3893:

be achieved by having a public body, designated the Bureau of Public Ownership (BPO), owning the shares of publicly listed firms without affecting market-based allocation of capital inputs. Yunker termed this model pragmatic market socialism because it does not require massive changes to society and would leave the existing management system intact, and would be at least as efficient as modern-day capitalism while providing superior social outcomes as public ownership of large and established enterprises would enable profits to be distributed among the entire population in a

2773: 3307:(and therefore indirectly for use). "Production under socialism would be directly and solely for use. With the natural and technical resources of the world held in common and controlled democratically, the sole object of production would be to meet human needs." Goods and services would be produced for their usefulness, or for their use-value, eliminating the need for market-induced needs to ensure a sufficient amount of demand for products to be sold at a profit. Production in a socialist economy is therefore "planned" or "coordinated", and does not suffer from the 4702:. Some western observers note that the private sector is likely underestimated by state officials in calculation of GDP due to its propensity to ignore small private enterprises that are not registered. Most of the state and private sectors of economy are governed by free market practices, including a stock exchange for trading equity. The free-market is the arbitrator for most economic activity, which is left to the management of both state and private firms. A significant amount of privately owned firms exist, especially in the consumer service sector. 3042:: inherent to capitalism is the incessant drive to accumulate as a response to the competitive forces acting upon all capitalists. In such a context the accumulated wealth which is the source of the capitalist's social power derives itself from being able to repeat the circuit of money→commodity→money, where the capitalist receives an increment or "surplus value" higher than their initial investment, as rapidly and efficiently as possible. Moreover, this driving imperative leads capitalism to its expansion on a worldwide scale. 3884:. According to Nove, this model of socialism is "feasible" because it can be realized within the lifetime of anyone living today. It involves a combination of publicly owned and centrally directed enterprises for large-scale industries, autonomous publicly owned enterprises, consumer and worker-owned cooperatives for the majority of the economy, and private ownership for small businesses. It is a market-based mixed economy that includes a substantial role for macroeconomic interventionism and indicative economic planning. 1497: 3446: 3127: 3415:

are utilized in a planned fashion. A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child. The education of the individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow-men in place of the glorification of power and success in our present society.

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labour force a year according to employment data during the 1970s and 1980s in Central and Eastern Europe and the USSR. Labour exchanges were established in the USSR in 1967 to help enterprises re-allocate workers and provide information on job vacancies. Compulsory unemployment insurance schemes operated in Bulgaria, Eastern Germany and Hungary but the numbers claiming support as a result of losing their job through no fault of their own numbered a few hundred a year.

3381: 8160:, Tables 27 and 47; figures are for 1992–94. The world average is 1,490 students per 100,000 people and 60 percent for the gross enrolment ratio, combining all levels of education. Countries with a high intake at tertiary level to technical and vocational education such as Western Germany (2,320) had a similar ratio of university students to the socialist countries, reflecting a higher proportion of manufacturing and construction in their economies. 3435: 3062:

course of its development capitalism was at the same time developing the preconditions for its own negation. However, although the objective conditions for change are generated by the capitalist system itself, the subjective conditions for social revolution can only come about through the apprehension of the objective circumstances by the agents themselves and the transformation of such understanding into an effective revolutionary program.

4447:. The importing country pledged to rely on the exporting country for its consumption of the product in question. Production specialization occurred in engineering, automotive, chemicals, computers and automation, telecommunications and biotechnology. Scientific and technical cooperation between CMEA member states was facilitated by the establishment in 1969 of the International Centre for Scientific and Technical Information in Moscow. 4000: 3567: 2899: 2404: 9065:. "Sweden, Great Britain, and France have mixed economies, sometimes referred to as democratic socialism—an economic and political system that combines private ownership of some of the means of production, governmental distribution of some essential goods and services, and free elections. For example, government ownership in Sweden is limited primarily to railroads, mineral resources, a public bank, and liquor and tobacco operations." 51: 5430: 2355: 5416: 1509: 1480: 2958: 4539:" or "repressed inflation". Prices on the black market were several times higher than in the official price-controlled outlets, reflecting the scarcity and possible illegality of the sale of these items. Therefore, although consumer welfare was reduced by shortages, the prices households paid for their regular consumption were lower than would have been the case had prices been set at market-clearing levels. 4202:

determined on the basis of the costs of inputs, a method derived from the labour theory of value. Prices did not therefore incentivize production enterprises, whose inputs were instead purposely rationed by the central plan. This "taut planning" began around 1930 in the Soviet Union and only became attenuated after the economic reforms in 1966–1968, when enterprises were encouraged to make profits.

3481:, and was based on a highly bureaucratic administration of the entire economy in accordance to a comprehensive plan formulated by a central planning agency, which specified output requirements for productive units and tried to micromanage the decisions and policies of enterprises. The command economy is based on the organizational model of a capitalist firm, but applies it to the entire economy. 3377:

and its satellites, it was the State which controlled and managed almost all of the economy as a single huge enterprise. Furthermore, the products that were manufactured in Soviet-type economies were not produced directly for use, given the fact that all of them were sold to the public at below-market prices (i.e. they were sold in deficit to satisfy the needs of the population).

4922:, it did not abolish private property in capital. India proceeded by nationalizing various large privately run firms, creating state-owned enterprises and redistributing income through progressive taxation in a manner similar to social democratic Western European nations than to planned economies such as the Soviet Union or China. Today, India is often characterized as having a 4223:

apply for and quit jobs freely in the Soviet Union. The use of market mechanisms went furthest in Yugoslavia, Czechoslovakia and Hungary. From 1975, Soviet citizens had the right to engage in private handicraft; collective farmers could raise and sell livestock privately from 1981. Households were free to dispose of their income as they chose, and incomes were lightly taxed.

3026:: Marx adapted previous value-theory to show that in capitalism phenomena involved with the price system (markets, competition, supply and demand) constitute a powerful ideology that obscures the underlying social relations of capitalist society. "Commodity fetishism" refers to this distortion of appearance. The underlying social reality is one of economic exploitation. 4065:. In a centrally planned economy, decisions regarding the quantity of goods and services to be produced are planned in advance by a planning agency. In the early years of Soviet central planning, the planning process was based upon a selected number of physical flows with inputs mobilized to meet explicit production targets measured in natural or technical units. This 4518:

automotive and nuclear power sectors, leaving the traditional heavy industries dependent upon older technologies. Despite the rhetoric about modernization, innovation remained weak as enterprise managers preferred routine production that was easier to plan and brought them predictable bonuses. Embargoes on high technology exports organized through the US-supported

3517:, attempt to apply the labor theory of value to socialism, so that the price of a good or service is adjusted to equal the amount of labor time expended in its production. The labor-time expended by each worker would correspond to labor credits, which would be used as a currency to acquire goods and services. Market socialists that base their models on 6712:

hand, nothing can pass to the ownership of individuals, except individual means of consumption. But as far as the distribution of the latter among the individual producers is concerned, the same principle prevails as in the exchange of commodity equivalents: a given amount of labor in one form is exchanged for an equal amount of labor in another form."

2979:", would stand as the branching point in economic theory. In one direction went those who rejected the capitalist system as fundamentally anti-social, arguing that it could never be harnessed to effectively realize the fullest development of human potentialities wherein "the free development of each is the condition for the free development of all". 4856:. There are a number of different models of trade union protection which evolved, but they all guarantee the right of workers to form unions, negotiate benefits and participate in strikes. Germany appointed union representatives at high levels in all corporations and had much less industrial strife than the United Kingdom, whose laws encouraged 4501:

to live in communal apartments according to the 1989 census. Housing was generally of good quality in both the CEE/CIS region and in the OECD countries: 98 and 99 percent of the population in the OECD countries had access to safe drinking water and improved sanitation respectively, compared to 93 and 85 percent in the CEE/CIS area by 1990.

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believed that even if markets and private property could be tamed so as not to be excessively "exploitative", or crises could be effectively mitigated, capitalist social relations would remain significantly unjust and anti-democratic, suppressing universal human needs for fulfilling, empowering and creative work, diversity and solidarity.

4125:. While they dispensed almost entirely with private ownership over the means of production, workers still effectively received a wage for their labour. Some believe that according to Marxist theory this should have been a step towards a genuine workers' state. However, some Marxists consider this a misunderstanding of Marx's views on 2647:. Socialists disagree about the degree to which social control or regulation of the economy is necessary; how far society should intervene and whether government, particularly existing government, is the correct vehicle for change are issues of disagreement. The goal of socialist economics is to neutralize capital, or in the case of 3770:

opposed to the market or private property and instead they try to ameliorate the effects of capitalism through a welfare state which relies on the market as the fundamental coordinating entity in the economy and a degree of public ownership/public provision of public goods in an economy otherwise dominated by private enterprise.

3357:. As a result, some socialist movements have argued that said economies were not socialist due to the lack of equal power-relations in the workplace, the presence of a new "elite", and because of the commodity production that took place in these economies. These economic and social systems have been classified as being either " 5086:, have existed within the broader context of the capitalist mode of production since the Paris Commune. New forms of socialist institutional arrangements began to take form at the end of the 20th century with the advancement and proliferation of the internet and other tools that allow for collaborative decision-making. 4615:

all the countries of the Commonwealth of Independent States, the government decided against restoration or compensation on the grounds that too much time had elapsed and in many cases compensation had already been made through bilateral treaties between the USSR and foreign governments representing the former owners.

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per person was estimated at $ 6,162. This compared to the US with $ 20,651 and $ 16,006 for Germany in the same year. For the OECD area as a whole estimated GDP per person was $ 14,385. Thus, on the basis of IMF estimates, national income (GDP) per person in the CEE/CIS area was 43 percent of that in the OECD area.

4412:, an international body set up to promote economic development. It involved joint planning activity, the establishment of international economic, scientific and technical bodies and methods of cooperation between state agencies and enterprises, including joint ventures and projects. Allied to the CMEA were the 2866:

advocated a society in which people were ranked according to their capacities and rewarded according to their work. This was accompanied by a desire to implement a rationally organized economy based on planning and geared towards large-scale scientific and material progress, which embodied a desire for a semi-

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Full Text. From the Preamble: "On 2 July 1976, the National Assembly of reunified Vietnam decided to change the country's name to the Socialist Republic of Vietnam; the country entered a period of transition to socialism, strove for national construction, and unyieldingly defended its frontiers while

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The Paris Commune was considered to be a prototype mode of economic and political organization for a future socialist society by Karl Marx. Private property in the means of production was abolished so that individuals and co-operative associations of producers owned productive property and introduced

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Over the course of the 1980s it became clear that the CMEA area was "in crisis", although it remained viable economically and was not expected to collapse. The "extensive" growth model was retarding growth in the CMEA as a whole, with member countries dependent upon supplies of raw materials from the

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were often paid in kind). Licensed markets operated in every town and city borough where non-state-owned enterprises (such as cooperatives and collective farms) were able to offer their products and services. From 1956 and 1959 onwards, all wartime controls over manpower were removed and people could

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The American economist James Yunker detailed a model where social ownership of the means of production is achieved the same way private ownership is achieved in modern capitalism through the shareholder system that separates management functions from ownership. Yunker posits that social ownership can

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and self-governance, with equal power-relations in the workplace to maximize occupational autonomy. A socialist form of organization would eliminate controlling hierarchies so that only a hierarchy based on technical knowledge in the workplace remains. Every member would have decision-making power in

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Crises: Marx identified natural and historically specific (i.e. structural) barriers to accumulation that were interrelated and interpenetrated one another in times of crises. Different types of crises, such as realization crises and overproduction crises, are expressions of capitalism's inability to

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was the first individual to coin the term "socialism". Saint-Simon was fascinated by the enormous potential of science and technology, which led him to advocate a socialist society that would eliminate the disorderly aspects of capitalism and which would be based upon equal opportunities. Saint-Simon

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appeared in mature form as a result of the problems raised when an industrial factory system requiring long-term investment and entailing corresponding risks was introduced into an internationalized commercial (mercantilist) framework. Historically speaking, the most pressing needs of this new system

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have roots in pre-capitalist institutions such as the religious communes, reciprocal obligations and communal charity of medieval Europe, the development of its economic theory primarily reflects and responds to the monumental changes brought about by the dissolution of feudalism and the emergence of

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Full Text. From Article 5: "The Communist Party of Cuba, a follower of Martí's ideas and of Marxism–Leninism, and the organized vanguard of the Cuban nation, is the highest leading force of society and of the state, which organizes and guides the common effort toward the goals of the construction of

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Full Text. Part 1: "Here, obviously, the same principle prevails as that which regulates the exchange of commodities, as far as this is exchange of equal values. Content and form are changed, because under the altered circumstances no one can give anything except his labor, and because, on the other

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A society may be defined as socialist if the major part of the means of production of goods and services is in some sense socially owned and operated, by state, socialized or cooperative enterprises. The practical issues of socialism comprise the relationships between management and workforce within

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economy that combines economic planning with the free market. While government-linked companies generate a majority of Singapore's GDP, moderate state planning in the economy has been reduced in recent decades. Nonetheless, while being the most right-wing of the Singaporean parties, the PAP has been

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which generate 60% of Singapore's GDP. Temasek Holdings operates like any other company in a market economy. Managers of the holding are rewarded according to profits with the explicit intention to cultivate an ownership mindset. The state also provides substantial public housing, free education and

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which initially adopted a Leninist approach to politics and a broad socialist model of economic development. Originally, there was also infighting between moderates and radicals, including a left-wing and communist wing in the party which saw many imprisoned. The socialist policies practised the PAP

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By 1988, GDP per person, measured at purchasing power parity in US dollars, was $ 7,519 in Russia and $ 6,304 for the USSR. The highest income was to be found in Slovenia ($ 10,663) and Estonia ($ 9,078) and the lowest in Albania ($ 1,386) and Tajikistan ($ 2,730). Across the whole CEE/CIS area, GDP

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On housing the main problem was over-crowding rather than homelessness in the socialist planned economies. In the USSR the area of residential accommodation was 15.5 square meters per person by 1990 in urban areas but 15 percent of the population were without their own separate accommodation and had

4407:

By the 1980s, the world economic socialist system embraced one-third of the world's population but generated no more than 15 percent of global economic output. At its height in the mid-1980s, the world socialist system could be said to comprise the following countries with a "socialist orientation",

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East Asian model, or socialist market economy, based on a largely free-market, capital accumulation for profit and substantial private ownership along with state-ownership of strategic industries monopolised by a single political party. János Kornai ultimately leaves the classification of this model

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Classical and Marxist conception, where socialism is a stage of economic development in which wage labour, private property in the means of production and monetary relations have been made redundant through the development of the productive forces, so that capital accumulation has been superseded by

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remains unresolved within said socialist movements. However, other socialist movements defend the systems that were in place in Eastern Europe and the Soviet Union, remembering, as said above, that public ownership of the means of production can signify many variants. In the case of the Soviet Union

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As Polanyi noted, these counter-movements were mostly reactive and therefore not full-fledged socialist movements. Some demands went no further than a wish to mitigate the capitalist market's worst effects. Later, a full socialist program developed, arguing for systemic transformation. Its theorists

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The neoclassical view is that there is a lack of incentive, not a lack of information in a planned economy. They argue that within a socialist planned economy there is a lack of incentive to act on information. Therefore, the crucial missing element is not so much information as the Austrian School

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initially refused to join a popular front electoral alliance and abstention by CNT supporters led to a right wing election victory. In 1936, the CNT changed its policy and anarchist votes helped bring the popular front back to power. Months later, the former ruling class responded with an attempted

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with a growing private sector engaged primarily in commodity production and light industry. Centralized directive planning based on mandatory output requirements and production quotas has been superseded by the free-market mechanism for most of the economy and directive planning is utilized in some

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and private property rights were re-established. In several countries property was restored to its former owners or their legal successors. If the actual property could not be returned the former owners received compensation. This occurred in Eastern Germany, Czechoslovakia, Hungary and Estonia. In

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I am convinced there is only one way to eliminate (the) grave evils (of capitalism), namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals. In such an economy, the means of production are owned by society itself and

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Socialization and the pre-conditions for social revolution: by socializing the labour process, concentrating workers into urban settings in large-scale production processes and linking them in a worldwide market, the agents of a potential revolutionary change are created. Thus Marx felt that in the

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In the USSR in the late 1980s the system was normally referred to as the 'administrative-command economy'. What was fundamental to this system was not the plan but the role of administrative hierarchies at all levels of decision making; the absence of control over decision making by the population

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regarding wage and business income, wealth, inheritance, capital gains and property. On the spending side, a set of social policies typically provides free access to public services such as education, health care and child care, while subsidized access to housing, food, pharmaceutical goods, water

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of state institutions. 150 state-owned enterprises remain and report directly to the central government, most having a number of subsidiaries. By 2008, these state-owned corporations had become increasingly dynamic largely contributing to the increase in revenue for the state. The state-sector led

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embraced a socialist planned economy after the Communist victory in its Civil War. Private property and private ownership of capital were abolished, and various forms of wealth made subject to state control or to workers' councils. The Chinese economy broadly adopted a similar system of production

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Unemployment did not exist officially in the socialist planned economies, though there were people between jobs and a fraction of unemployable people as a result of illness, disability or other problems, such as alcoholism. The proportion of people changing jobs was between 6 and 13 percent of the

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strongly affirm the classical liberal ideas of self-ownership and free markets, while maintaining that, taken to their logical conclusions, these ideas support strongly anti-corporatist, anti-hierarchical, pro-labor positions and anti-capitalism in economics and anti-imperialism in foreign policy.

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and their economic reforms. While these policies and reforms did not change the fundamental aspect of capitalism and non-socialist elements within these countries supported or often implemented many of these reforms themselves, the result has been a set of economic institutions that were at least

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where a major percentage of GDP comes from the state sector such as in Norway which ranks among the highest countries in quality of life and equality of opportunity for its citizens. Elements of these efforts persist throughout Europe, even if they have repealed some aspects of public control and

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Proponents of this model distinguish themselves from market socialists who believe that economic planning is unattainable, undesirable or ineffective at distributing goods, viewing the market as the solution rather than a temporary phase in development of a socialist planned economy. This type of

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Under conditions of "taut planning", the economy was expected to produce a volume of output higher than the reported capacity of enterprises and there was no "slack" in the system. Enterprises faced a resource constraint and hoarded labour and other inputs and avoided sub-contracting intermediate

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From the 1960s onwards, CMEA countries, beginning with East Germany, attempted "intensive" growth strategies, aiming to raise the productivity of labour and capital. However, in practice this meant that investment was shifted towards new branches of industry, including the electronics, computing,

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Data collected by the United Nations of indicators of human development in the early 1990s show that a high level of social development was achieved in the former socialist planned economies of Central and Eastern Europe and the Commonwealth of Independent States (CEE/CIS). Life expectancy in the

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Other countries with privileged affiliation with the CMEA included Algeria, Benin, Burma, Congo, Finland, Madagascar, Mali, Mexico, Nigeria, Seychelles, Syria, Tanzania and Zimbabwe. The Soviet Union also provided substantial economic aid and technical assistance to developing countries including

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the firm and would be able to participate in establishing its overall policy objectives. The policies/goals would be carried out by the technical specialists that form the coordinating hierarchy of the firm, who would establish plans or directives for the work community to accomplish these goals.

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Commons-based peer production bears a close family resemblance to the familiar vision of socialism sketched in the first paragraph of this chapter…In commons-based peer production a critical mass of inputs, and all outputs, are distributed within information networks as free goods rather than as

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began from 2006 to encourage co-operatives, worker-ownership and self-employment in a move to reduce the central role of state enterprise and state management within the economy, with the goal of building a "deeper" or more co-operative form of socialism. By 2018, there were 429 co-operatives in

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On the other side of the argument, economists contend that no surplus value was generated from labour activity or from commodity markets in the socialist planned economies; they therefore claim that there was no exploiting class, even if inequalities existed. Since prices were controlled and set

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introduced central planning with five- (or six-) year plans on the Soviet model by 1951. The common features included the nationalization of industry, transport and trade, compulsory procurement in farming (but not collectivization) and government monopolies on foreign trade. Prices were largely

4140:

production quotas for every productive unit. A farm, mine or factory was judged on the basis of whether its production met the quota. It would be provided with a quota of the inputs it needed to start production, and then its quota of output would be taken away and given to downstream production

4637:

The distribution system became more unequal as price controls on necessities were removed fuelling the growth of poverty among people on fixed incomes such as pensioners and the unemployed. Redistributive measures through taxation and social safety nets proved unable to counteract the growth of

3753:

Marxist–Leninist conception which includes a form of political organisation based on control of the means of production and government by a single political party apparatus that claims to act in the interest of the working class and an ideology hostile toward markets and political dissent, with

3670:

in the 20th century such as in Sweden. Many different proposals for socialist economic systems call for a type of mixed economy, where multiple forms of ownership over the means of production co-exist with one another. Alternatively, a mixed economy may also be a socialist economy that allows a

3275:

world-system. It is a world-economy and it is by definition capitalist in form. Socialism involves the creation of a new kind of world-system, neither a redistributive world-empire nor a capitalist world-economy but a socialist world-government. I don't see this projection as being in the least

2881:

and reasoned that the equilibrium value of commodities approximated producer prices when those commodities were in elastic supply, and that these producer prices corresponded to the embodied labor. The Ricardian socialists viewed profit, interest and rent as deductions from this exchange-value.

4775:

or another during the 20th century. These include Britain (mixed economy and welfare state) from 1945 to 1979, France (state capitalism and indicative planning) from 1945 to 1982 under dirigisme, Sweden (social democratic welfare state) and Norway (state social democratic mixed economy) to the

3769:

which defines socialism as a set of values rather than a specific type of social and economic organisation. It includes unconditional support for parliamentary democracy, gradual and reformist attempts to establish socialism and support for socially progressive causes. Social democrats are not

5731:

ocialism would function without capitalist economic categories—such as money, prices, interest, profits and rent—and thus would function according to laws other than those described by current economic science. While some socialists recognised the need for money and prices at least during the

4819:

from nationalized industries for the overall national good, the ability to direct producers to social rather than market goals and greater control of the industries by and for the workers as well as the benefits and burdens of publicly funded research and development are extended to the wider

4450:

Trade between CMEA member states was divided into "hard goods" and "soft goods". The former could be sold on world markets and the latter could not. Commodities such as food, energy products and raw materials tended to be hard goods and were traded within the CMEA area at world market prices.

4307:

levels, there was no element of value added at the point of sale - as occurs in capitalist market economies. Prices were built up from the average cost of inputs, including wages, taxes, interest on stocks and working capital as well as allowances to cover the recoupment of investment and for

3488:

believed that central planners, regardless of their intellectual capacity, operated without the input and participation of the millions of people who participate in the economy and understand the local conditions and rapid changes in the economy. Therefore, central planners would be unable to

5702:

Especially before the 1930s, many socialists and anti-socialists implicitly accepted some form of the following for the incompatibility of state-owned industry and factor markets. A market transaction is an exchange of property titles between two independent transactors. Thus internal market

9428:

A decade after Taiwan made its democratic transition, the KMT's Leninist control model has yet to fade from the decision-making process. In short, both China's and Taiwan's state capitalism have their roots in the Leninist legacy. To be specific, Taiwan's state capitalism has experienced a

4842:. Unlike private insurance, governmental schemes are based on public statutes and not contracts, so that contributions and benefits may change in time and are based on solidarity among participants. Its funding is done on an ongoing basis, without direct relationship with future liabilities. 5703:

exchanges cease when all of industry is brought into the ownership of a single entity, whether the state or some other organization , the discussion applies equally to any form of social or community ownership, where the owning entity is conceived as a single organization or administration.

4625:

Markets became the dominant coordination mechanism following price liberalization and the de-control of foreign trade that permitted more or less unrestricted importation of goods in 1990/92. Queues at retail outlets disappeared as did hoarded inventories at factories. Stock exchanges were

4633:

The organizational forms prevailing in the socialist planned economies were restructured by breaking up vertically integrated industrial and agricultural concerns and closing non-viable undertakings. The hardening of enterprise budget constraints was more significant in driving industrial

7256:

In the early 1950s all states with a ruling Communist Party had adopted a homogeneous economic mechanism - thet of the USSR. By 1951 each of the seven states ruled by Communist Parties in Europe had adopted five- (or six-) year plans on the Soviet model with similar apparatus for their

5178:

region of Spain, organizes itself as an employee-owned, employee-managed enterprise. Similar styles of decentralized management which embrace cooperation and collaboration in place of traditional hierarchical management structures have been adopted by various private corporations such as

2755:

Within this context, socialism has undergone four periods: the first in the 19th century was a period of utopian visions (1780s–1850s); then occurred the rise of revolutionary socialist and communist movements in the 19th century as the primary opposition to the rise of corporations and

4555:

presiding over centrally planned economies began introducing reforms that shifted their economies away from centralized planning. In Central and Eastern Europe and the USSR the transition from a planned economy to a market economy was accompanied by the transformation of the socialist

5610:. Oxford: Oxford University Press. p. 8. "What else does a socialist economic system involve? Those who favor socialism generally speak of social ownership, social control, or socialization of the means of production as the distinctive positive feature of a socialist economic system." 4673:

saw a remarkably large-scale experiment with rapid collectivisation of agriculture and other ambitious goals. Results were less than expected (e.g. there were food shortages and mass starvation) and the program was abandoned after three years. In the common program set up by the

4723:

perspective which states that a socialist planned economy can only be possible after first establishing the necessary comprehensive commodity market economy, letting it fully develop until it exhausts its historical stage and gradually transforms itself into a planned economy.

4682:

In recent decades, China has opened its economy to foreign investment and to market-based trade, and has continued to experience strong economic growth. It has carefully managed the transition from a socialist planned economy to a market economy, officially referred to as the

3671:

substantial role for private enterprise and contracting within a dominant economic framework of public ownership. This can extend to Soviet-type planned economies that have been reformed to incorporate a greater role for markets in the allocation of factors of production.

6649:"But there has always been a market-oriented strand of libertarian socialism that emphasizes voluntary cooperation between producers. And markets, properly understood, have always been about cooperation. As a commenter at Reason magazine's Hit&Run blog, remarking on 4522:

arrangement hampered technology transfer. Enterprise managers also ignored inducements to introduce labour-saving measures as they wished to retain a reserve of personnel to be available to meet their production target by working at top speed when supplies were delayed.

4210:, including the rapid expansion of universal education and health care, urban development with mass good-quality housing, and industrial development of all regions of the country. Nevertheless, markets continued to exist in Soviet-type planned economies. Even after the 4534:

As the supply of consumer goods failed to match rising incomes (because workers still received their pay even if they were not fully productive), household savings accumulated, indicating, in the official terminology, "postponed demand". Western economists called this

3745:

Walrasian and market socialist which defines socialism as public-ownership or cooperative-enterprises in a market economy, with prices for producer goods set through a trial-and-error method by a central planning board. In this view, socialism is defined in terms of

4319:), to a bureaucratic elite based on hierarchical and centralized powers of authority as well as to the lack of genuine worker control over the means of production. Such factors lead them to conclude that Soviet economies were not socialist, but examples either of 3049:

Centralization: the interacting forces of competition, endemic crises, intensive and extensive expansion of the scale of production, and a growing interdependency with the state apparatus, all promote a strong developmental tendency towards the centralization of

3742:. Economic planning in this definition means conscious allocation of economic inputs and the means of production by the associated producers to directly maximise use-values as opposed to exchange-values, in contrast to the "anarchy of production" of capitalism. 4678:

in 1949, in effect the country's interim constitution, state capitalism meant an economic system of corporatism. It provided as follows: "Whenever necessary and possible, private capital shall be encouraged to develop in the direction of state capitalism".

4265:

Various scholars and political economists have criticized the claim that the centrally-planned economy - and specifically the Soviet model of economic development - constitutes a form of socialism. They argue that the Soviet economy was structured upon the

5183:. Unlike Mondragon, Cisco remains firmly under private ownership. More fundamentally, employee-owned, self-managed enterprises still operate within the broader context of capitalism and are subject to the accumulation of capital and profit-loss mechanism. 5298:

estimated that about eight million people participated directly or at least indirectly in the Spanish Revolution which he claimed "came closer to realizing the ideal of the free stateless society on a vast scale than any other revolution in history".

4645:

The public choice mechanism was overhauled to rescind the communist party's leading role and introduce a liberal constitution entrenching civil rights and representative democracy in almost all transition economies except Belarus, Turkmenistan and

5118:, has been cited as a template for how socialism might operate. This is understood by some as a modern example of what the Paris Commune—a template for possible future organization—was to Marx in his time. Others, like Stefan Meretz, believe that 3057:

of labour, typically by revolutionizing technology and production techniques, capitalism develops so as to progressively reduce the objective need for work, suggesting the potential for a new era of creative forms of work and expanded scope for

4155:

full employment. Every worker was ensured employment. However workers were generally not directed to jobs. The central-planning administration adjusted relative wages rates to influence job choice in accordance with the outlines of the current

2698:

specifically capitalist social relations. As such it is commonly regarded as a movement belonging to the modern era. Many socialists have considered their advocacy as the preservation and extension of the radical humanist ideas expressed in

5105:

generally involves production with no aim to profit directly, but freely contribute to a project relying upon an open common pool of resources. Production is carried out directly for use— ex. open source software is produced solely for its

5053:

manifests that "a notable contribution to the activities of the Commune and particularly to the organization of public services was made by members of various anarchist factions, including the mutualists Courbet, Longuet, and Vermorel, the

3778:

Socialism can be divided into market socialism and planned socialism based on their dominant mechanism of resource allocation. Another distinction can be made between the type of property structures of different socialist systems (public,

4560:

to a capitalist mode of production. In Asia (China, Laos, North Korea and Vietnam) and in Cuba market mechanisms were introduced by the ruling communist parties and the planning system was reformed without systemic transformation.

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to the capitalist economy that is based on collaborative self-management, common ownership of resources, and the (direct) production of use-values through the free cooperation of producers who have access to distributed capital.

3678:

in which publicly owned, employee-managed production units engage in free-market exchanges of goods and services with one another as well as with final consumers, e.g. mid-20th-century Yugoslavia. Two more theoretical models are

4837:

schemes where workers contribute to a mandatory public insurance program. The insurance typically include monetary provisions for retirement pensions and survivor benefits, permanent and temporary disabilities, unemployment and

4626:

established between 1990 and 1995. Anti-monopoly legislation was introduced. As workers lost their jobs or found their wages unpaid, informal labour markets sprang up along certain streets, particularly for construction trades.

6653:'s link to the Kelly article, put it: "every trade is a cooperative act." In fact, it's a fairly common observation among market anarchists that genuinely free markets have the most legitimate claim to the label 'socialism.'". 4491:

Every citizen had a right in practice to take part in discussing and solving any problems in the life of the enterprise, region, republic and the country they lived in, including the rights to free speech, of assembly and to

2994:, seeking to be a comprehensive logical description of production, consumption, and finance in relation to morality and the state. The work of philosophy, anthropology, sociology, and economics includes the following topics: 3856:. This model shares many similarities with the model of socialist self-management in that employees own and direct their enterprises, but places a greater role on democratically elected management within a market economy. 5033:

includes a number of state-owned enterprises, but the Taiwanese state's role in the economy shifted from that of an entrepreneur to a minority investor in companies alongside the democratization agenda of the late 1980s.

3830:, self-managing and cooperative aspect of socialism. Members of cooperative firms are relatively free to manage their own affairs and work schedules. This model was developed most extensively by the Yugoslav economists 5049:

democratic measures where elected officials received no more in compensation than the average worker and could be recalled at any time. Anarchists also participated actively in the establishment of the Paris Commune.

4697:

that privately owned enterprises that generate about 33% (People's Daily Online 2005) to over 50% of GDP in 2005, with a BusinessWeek article estimating 70% of GDP, a figure that might be even greater considering the

6625:

tradition, and that market anarchists can and should call themselves "socialists." See Gary Chartier, "Advocates of Freed Markets Should Oppose Capitalism," "Free-Market Anti-Capitalism?" session, annual conference,

4622:

The decision-making system was de-centralized through the ending of central planning and the privatization of enterprises. Work collectives and trade unions lost much of their influence in enterprise decision-making.

4274:

from the working class by the planning agency in order to reinvest this surplus into the economy and to distribute to managers and senior officials, indicating the Soviet Union and other Soviet-style economies were

4629:

The incentive system was modified by the legalization of private enterprise and alteration to employment laws. A large informal sphere developed estimated at comprising 21 to 30 percent of official calculations of

9027:. Retrieved 14 June 2020. "If we were to extend the definition of socialism to include Labor Britain or socialist Sweden, there would be no difficulty in refuting the connection between capitalism and democracy." 3207:

with production and consumption based on the guiding principle: "from each according to ability, to each according to need". Unlike mutualism, collectivist anarchism and Marxism, anarcho-communism as defended by

5636:

Socialist systems are those regimes based on the economic and political theory of socialism, which advocates public ownership and cooperative management of the means of production and allocation of resources.

4605:

from a socialist planned economy to a capitalist market economy in Central and Eastern Europe, the former Soviet Union and Mongolia in the 1990s involved a series of institutional changes. These included:

4417: 5732:

transition from capitalism to socialism, socialists more commonly believed that the socialist economy would soon administratively mobilise the economy in physical units without the use of prices or money.

4205:

According to communist doctrine, planning had the stated purpose of enabling the people - through the communist party and state institutions - to undertake activities that would have been frustrated by a

3122:

that holds that when labor or its product is sold, in exchange, it ought to receive goods or services embodying "the amount of labor necessary to produce an article of exactly similar and equal utility".

4369:'s constitution states that Vietnam only entered a transition stage between capitalism and socialism after the country was re-unified under the Communist party in 1976, and the 1992 Constitution of the 7257:

implementation, notably nationalisation of industry, transport and trade, compulsory procurement in farming (collectivisation had, however, only barely begun) and the monopolisation of foreign trade.

3118:. Integral to the scheme was the establishment of a mutual-credit bank that would lend to producers at a minimal interest rate, just high enough to cover administration. Mutualism is based on a 8977: 3276:

utopian but I also don't feel its institution is imminent. It will be the outcome of a long social struggle in forms that may be familiar and perhaps in very few forms, that will take place in

3032:: workers are the fundamental creative source of new value. Property relations affording the right of usufruct and despotic control of the workplace to capitalists are the devices by which the 5025:

Taiwan's economy has been classified as a state capitalist system influenced by its Leninist model of political control, with some Taiwanese economists referring to Taiwan's economy model as

7473: 6019: 3694:

Public enterprise participatory planning, an economy featuring social ownership of the means of production with allocation based on an integration of decentralized democratic planning, e.g.

2988:

is an incomplete work of economic theory; he had planned four volumes but completed two and left his collaborator Engels to complete the third. In many ways, the work is modelled on Smith's

7414: 3165:' salaries would be determined in democratic organizations based on the amount of time they contributed to production. These salaries would be used to purchase goods in a communal market. 2748:

rebellions, are the incipient socialist movements. Over time such movements gave birth to or acquired an array of intellectual defenders who attempted to develop their ideas in theory.

6614: 3353:, excluding Yugoslavia, were based on bureaucratic, top-down administration of economic directives and micromanagement of the worker in the workplace inspired by capitalist models of 260: 8147:, New York: United Nations Department for Economic and Social Information and Policy Analysis, Tables 4 and 20. Data is for 1990. The world average was 58 for every1,000 live births. 4957:

has ownership stakes in many of the country's largest publicly listed companies, owning 37% of the Oslo stockmarket and operates the country's largest non-listed companies including

3636:

Public enterprise centrally planned economy in which all property is owned by the state and all key economic decisions are made centrally by the state, e.g. the former Soviet Union.

4413: 9399: 6621:) in maintaining that, because of its heritage and its emancipatory goals and potential, radical market anarchism should be seen—by its proponents and by others—as part of the 4257:. Stalin's formulations of national plans in terms of physical quantity of output was also attributed by Daniels as a source for the stagnant levels of efficiency and quality. 3958:

The "networked information age" has enabled the development and emergence of new forms of organizing the production of value in non-market arrangements that have been termed

9044:. Barkan, Joanne; Brand, Horst; Cohen, Mitchell; Coser, Lewis; Denitch, Bogdan; Fehèr, Ferenc; Heller, Agnès; Horvat, Branko; Tyler, Gus. pp. 96–110. Retrieved 14 June 2020. 5595:

the enterprise, the interrelationships between production units (plan versus markets), and, if the state owns and operates any part of the economy, who controls it and how.

3004:

Historical property relations: historical capitalism represents a process of momentous social upheaval where rural masses were separated from the land and ownership of the

9272: 4166: 6811:. "Planning is not equivalent to 'perfect' allocation of resources, nor 'scientific' allocation, nor even 'more humane' allocation. It simply means 'direct' allocation, 5152:

rather than publicly owned by the state. In these organizations, the management was elected directly by the workers in each firm, and were later organized according to

5530:

Socialism may be defined as movements for social ownership and control of the economy. It is this idea that is the common element found in the many forms of socialism.

4365:

in their countries; on the contrary, they claim to be building and working toward the establishment of socialism in their countries. For example, the preamble to the

4391:, known as the Fundamental Law of Victorious Socialism, embodied the claim that the foundations for socialism had been laid. In 1924 Stalin introduced the theory of 6438:

From Politics Past to Politics Future: An Integrated Analysis of Current and Emergent Paradigms Alan James Mayne Published 1999 Greenwood Publishing Group 316 pages

3161:. Instead, it envisions the means of production being owned collectively and controlled and managed by the producers themselves. Once collectivization takes place, 9329: 2682: 9429:

transformation from 'leviathan as entrepreneur' in the pre-1989 period to 'leviathan as a minority investor' with the agenda of democratization in the late 1980s.

5131: 4148:

allocation of resources, the Soviet bureaucracy determined allocation, particularly of the means of production. The prices that were constructed were determined

8994: 6556:"Communism is based on free consumption of all while collectivism is more likely to be based on the distribution of goods according to the labour contributed. 4988:

during its first few decades in power were of a pragmatic kind as characterized by its rejection of nationalization. Despite this, the PAP was a member of the

9917: 8073: 4675: 2554:

is utilized, the economic system is designated as a socialist planned economy. Non-market forms of socialism usually include a system of accounting based on

3220:

and to base distribution on need. As a coherent, modern economic-political philosophy, anarcho-communism was first formulated in the Italian section of the

8793: 6042:. In: International Encyclopedia of the Social and Behavioral Sciences, ed. Neil Smelser and Paul B. Baltes. Amsterdam: Pergamon Press 2002, available for 4807:

of key industries such as mining, oil, steel, energy and transportation. A common model is for a sector to be taken over by the state and then one or more

3934:

Proposals for utilizing computer-based coordination and information technology for the coordination and optimization of resource allocation (also known as

3666:, where public and private ownership are mixed and industrial planning is ultimately subordinate to market allocation, e.g. the model generally adopted by 7852: 6436: 4347:

aimed not to introduce socialism (which could only be established on a worldwide scale), but to bring production and the state under the control of the

3046:

constructively overcome such barriers. Moreover, the upshot of crises is increased centralization, the expropriation of the many capitalists by the few.

2861:

The first advocates of socialism promoted social leveling in order to create a meritocratic or technocratic society based upon individual talent. Count

2385: 8974: 4299:, having not yet transcended the system of capitalism, but being in fact a variation of capitalism based on a process of state-directed accumulation. 6929: 5502:

Socialism, you see, is a bird with two wings. The definition is 'social ownership and democratic control of the instruments and means of production.'

4485:

Every citizen had a guaranteed right to work, rest, education, health care, abode and security in old age and maintenance in the event of disability.

3912:

utilizes participatory decision making as an economic mechanism to guide the production, consumption and allocation of resources in a given society.

3016:. Moreover, capitalist property relations aggravated the artificial separation between city and country, which is a key factor in accounting for the 8828: 4152:

the formulation of the economy plan, and such prices did not factor into choices about what was produced and how it was produced in the first place.

9121: 7470: 4996:, pointing out its regulation of the private sector, state intervention in the economy and social policies as evidence of this. The prime minister 4576:

with a separation of legislative, executive and judicial authorities and centres of private power that can act as a brake on the state's activity.

7445: 4460: 9307: 3766: 1308: 4488:

Material standards of living were rising steadily and everyone had free access to knowledge and to the values of world and national culture.

8854: 4656: 4583:. This economic system is a form of mixed-economy consisting of state, private, co-operative and individual enterprises coordinated by the 4475:

In the officially sanctioned textbooks describing the socialist planned economies as they existed in the 1980s, it was claimed as follows:

6680: 4895:

that operate according to the laws of capitalism and pursue profits, that have evolved in countries which have been influenced by various

4784:

experiments because they universally retained a wage-based economy and private ownership and control of the decisive means of production.

3810:, and management is elected by the workers within each firm. Profits would be distributed among the workers of the respective enterprise. 6907: 6863: 6627: 5766: 1539: 10231: 7824: 5148:. Rather than implementing a centrally planned economy, Yugoslavia developed a market socialist system where enterprises and firms were 4826:, through both tax and spending policies that aim to reduce economic inequalities. Social democracies typically employ various forms of 4757:, a mixed economy in which the state plays a dominant role intended to be a transitional phase in establishment of a socialist economy. 8886: 6955: 6103: 6043: 3319:

stated that "lower-stage communism" would consist of compensation based on the amount of labor one contributes to the social product.

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health and recreational services as well as comprehensive public transportation. Today, Singapore is often characterized as having a

8727: 6779: 2596:

As a term, socialist economics may also be applied to the analysis of former and existing economic systems that were implemented in

9506: 6276: 5743:

Lawler, James; Ollman, Bertell; Schweickart, David; Ticktin, Hillel (1998). "The Difference Between Marxism and Market Socialism".

5664:

Lawler, James; Ollman, Bertell; Schweickart, David; Ticktin, Hillel (1998). "The Difference Between Marxism and Market Socialism".

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in which citizens and workers in the enterprises received free or cheap shares was undertaken in most of the transition economies.

3822:

is a form of socialism where enterprises are owned and managed by their employees, effectively negating the employer-employee (or

2468: 7384:

Ellman, Michael (2007). "The Rise and Fall of Socialist Planning". In Estrin, Saul; Kołodko, Grzegorz W.; Uvalić, Milica (eds.).

7312: 5936: 2224: 206: 9276: 6560: 2440: 10040: 9751: 8952: 8535:, 1995, London: Royal Institute for International Affairs and Washington DC: The Brookings Institution, p. 126; Marie Lavigne, 4852:

recognition rights for the benefit of workers. The objectives of these policies are to guarantee living wages and help produce

2378: 417: 9037: 8651: 6250: 4451:

Manufactures tended to be soft goods—their prices were negotiable and often adjusted to make bilateral payment flows balance.

9889: 9760: 9664: 9637: 9609: 9581: 7834: 7677: 7393: 7322: 6789: 6479: 6015: 5990: 5969: 5945: 5921: 5587: 5558:

Socialism is an economic system characterized by state or collective ownership of the means of production, land, and capital.

5175: 4388: 3986:

by those affected by the use of the assets involved, with decisions made by those at the most localised level of production.

3484:

Various advocates of economic planning have been staunch critics of command economies and centralized planning. For example,

256: 8695: 5204: 4373:

states that the role of the Communist Party is to "guide the common effort toward the goals and construction of socialism".

2733:

were an assured supply of the elements of industry (land, elaborate machinery, and labour) and these imperatives led to the

10445: 10349: 9903: 7872: 4351:

of Workers' Deputies. Trotsky himself would weigh the material benefits and challenges associated with the adoption of the

4315:

Some socialist critics point to the lack of socialist social relations in Soviet-style economies (specifically the lack of

4211: 4017: 3584: 2916: 2447: 2421: 8810: 8286:, 2013 edition for 1988 GDP per capita at current purchasing power parities and current prices, Retrieved 1 November 2013. 4693:

by some outside observers. The current Chinese economic system is characterized by state ownership combined with a strong

3020:

between human beings in capitalism and their natural environment, which is at the root of our current ecological dilemmas.

9480: 6503: 4946:

Modern Norwegian state capitalism has its origins in public ownership of the country's oil reserves and in the country's

4918:

adopted a broadly socialist-inspired approach to economic growth. Like other countries with a democratic transition to a

4384: 4104: 9333: 3464:

is a mechanism for the allocation of economic inputs and decision-making based on direct allocation, in contrast to the

10319: 9421: 9228: 9207: 9083: 9062: 8764: 7785: 7104: 7079: 7046: 6064: 5842: 5724: 5695: 5629: 5551: 5523: 4685: 4425: 4112: 3315:

and not to the allocation of goods and services produced for consumption, which would be distributed through a market.

3271:

There are today no socialist systems in the world-economy any more than there are feudal systems because there is only

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production activities, preferring to retain the work in-house. The enterprise, according to the theory promulgated by

2760:

and adoption of socialist or social democratic policies in response (1916–1989); and the response of socialism in the

9833: 9805: 8998: 8612: 8564: 8544: 8496: 8475: 8451: 8431: 8411: 8399: 8387: 8367: 8347: 8335: 8323: 8311: 8244: 8232: 8186: 8165: 8106: 8060: 8039: 8018: 7984: 7697: 7643: 7623: 7298: 7277: 7242: 7180: 7159: 6982: 6446: 6089: 4966: 4754: 4706: 4357: 4039: 3656: 3606: 2938: 2487: 2454: 2371: 1748: 350: 17: 9548:"How Cisco's CEO John Chambers Is Turning the Tech Giant Socialist | Fast Company | Business + Innovation" 10384: 8518:, 1995, London: Royal Institute for International Affairs and Washington DC: The Brookings Institution, pp. 118–27. 6598:

Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty

4572:) with a constitutionally entrenched "leading role" for the communist and workers' parties in society to a liberal 4456: 4309: 4234:

period to represent an abrupt break with Lenin's government in terms of economic planning in which an deliberated,

1444: 1301: 9020: 5647:

Arneson, Richard J. (April 1992). "Is Socialism Dead? A Comment on Market Socialism and Basic Income Capitalism".

4058: 5291: 5272: 4464: 1532: 1488: 9241: 8789: 6635: 2436: 10055: 9186: 9148: 8625:"Modern History Sourcebook: The Common Program of The Chinese People's Political Consultative Conference, 1949" 7849: 5752: 5673: 4316: 4021: 3962:

along with the negation of ownership and the concept of property in the development of software in the form of

3827: 3684: 3588: 2920: 2828: 2425: 1914: 6392:

Miller, David. 1987. "Mutualism." The Blackwell Encyclopedia of Political Thought. Blackwell Publishing. p. 11

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and their followers challenge this view - they claim that socialism was established in the Soviet Union after

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Many of the industrialized, open countries of Western Europe experimented with one form of social democratic

4750: 4366: 4078: 4074: 4062: 3959: 3865: 3759: 2804: 2581:

provided comprehensive models of socialism. During the 20th century, proposals and models for both socialist

2359: 2254: 1974: 1964: 1454: 377: 323: 298: 166: 141: 10164: 4811:

set up for its day-to-day running. Advantages of nationalization include the ability of the state to direct

3938:) within an economy have been outlined by various socialists, economists and computer scientists, including 10324: 10277: 9945: 7549: 5369: 5017:

described as centre-left and adopted a left tack in certain areas in order to remain electorally dominant.

4564:

The transformation from socialism to capitalism involved a political shift: from a people's democracy (see

3296: 3290: 2284: 1411: 1381: 1356: 437: 241: 98: 9122:"Norway: The rich cousin – Oil makes Norway different from the rest of the region, but only up to a point" 6933: 4283:

economies. More fundamentally, these economies were structured around the dynamic of capitalism, i.e. the

3533:, have proposed that publicly owned enterprises set their price to equal marginal cost, thereby achieving 3338:

by all of society with management and control delegated to those who operate/use the means of production.

1258: 10379: 10294: 10267: 10154: 10085: 10008: 9926: 7194: 6585: 5354: 5227:

Even before the fascist victory in 1939, the anarchists were losing ground in a bitter struggle with the

4435:

The main tasks of the CMEA were plan coordination, production specialization and regional trade. In 1961

4429: 4098: 3846: 3510: 3103: 3099: 3095: 2788: 2566: 660: 340: 270: 186: 156: 8832: 3248:, they did not make their differences with collectivist anarchism explicit until after Bakunin's death. 303: 10299: 10287: 9299: 5251:

organizational principles throughout various portions of the country for two to three years, primarily

5192: 4332: 3703: 3366: 3251: 1525: 1313: 1198: 740: 9547: 2589:

were based heavily on neoclassical economics or a synthesis of neoclassical economics with Marxian or

9654: 8927: 4320: 4066: 3358: 2847: 2207: 2135: 1556: 1406: 1078: 221: 201: 6055:

Brown, Susan Love (1997). "The Free Market as Salvation from Government". In Carrier, James G., ed.

6038:. Munich: Elsevier 1980. A concise summary of Kornai's analysis can be found in Verdery, Katherine: 5864: 5007:

Singapore's economy is dominated by state-owned enterprises and government-linked companies through

4638:

poverty and, at the other end of the income scale, the emergence of a rich business elite (see also

3053:

Material development: as a result of its constant drive to optimize profitability by increasing the

10304: 10221: 10159: 9940: 9723: 8295: 7741: 4984: 4935: 4823: 4660: 4573: 4392: 3652: 1743: 1288: 345: 236: 6705: 6361:

Woodcock, George. Anarchism: A History Of Libertarian Ideas And Movements. Broadview Press. p. 100

3114:, either individually or collectively, with trade representing equivalent amounts of labor in the 10409: 10329: 10226: 10216: 10204: 10194: 9967: 8673: 7522: 6532: 6034:. Princeton: Princeton University Press and Oxford: Oxford University Press 1992; Kornai, János: 4989: 4455:

Egypt, India, Iraq, Iran, Somalia and Turkey. It supported developing countries in calling for a

4284: 4267: 4250: 4249:

had been replaced with a hasty version of planning with unrealistic targets, bureaucratic waste,

4130: 4010: 3929: 3909: 3711: 3577: 3303:, in contrast to a capitalist economic system, where goods and services are produced to generate 2909: 2605: 2590: 2461: 2414: 2309: 2259: 2140: 1868: 1738: 1513: 1464: 1346: 572: 562: 402: 357: 8861: 6138: 5994: 4787:

Nevertheless, these western European countries tried to restructure their economies away from a

4715:

the economic recovery process and increased economic growth in 2009 after the financial crises.

3806:. In Schweickart's model, enterprises and natural resources are owned by society in the form of 10209: 10179: 10147: 10090: 10000: 7228: 6684: 6306: 5308: 5145: 5055: 5026: 4891:

Various social democratic mixed economies are state capitalist, consisting of large commercial

4808: 4482:

Unemployment, hunger, poverty, illiteracy and uncertainty about the future had been eliminated.

4227: 4126: 3518: 3146: 3107: 3091: 3029: 2784: 2624: 2578: 2574: 2319: 1718: 1351: 695: 457: 293: 191: 181: 7801: 6870: 5798:

Veblein, Throstein (February 1907). "The Socialist Economics of Karl Marx and His Followers".

5773: 1218: 10334: 10282: 10257: 10065: 10045: 8995:"Consistently pursuing the socialist orientation in developing the market economy in Vietnam" 7494:

Wilhelm, John Howard (1985). "The Soviet Union Has an Administered, Not a Planned, Economy".

7071: 7064: 6469: 5288: 5248: 5171: 4616: 4288: 3723: 3699: 3680: 3502: 3312: 3200: 3131: 3119: 2703: 2644: 2543: 2531: 2314: 1959: 1649: 1619: 1604: 1208: 970: 745: 725: 690: 602: 532: 507: 6280: 6232: 3489:

effectively coordinate all economic activity because they lacked this informal information.

10419: 10399: 10339: 10174: 10122: 9741: 8624: 5384: 5329: 4978: 4954: 4827: 4720: 4565: 4344: 4235: 3819: 3788: 3264: 3039: 2976: 2874: 2862: 2711: 2699: 2660: 2620: 2219: 2027: 1924: 1888: 1733: 1666: 1614: 1278: 1178: 1113: 650: 577: 432: 176: 126: 83: 66: 61: 6123: 5141: 3982:

has created a model of coordination called "negotiated coordination", which is based upon

3342: 3311:

inherent to capitalism. In most socialist theories, economic planning only applies to the

8: 10404: 10199: 10132: 10028: 10023: 9990: 6998:

Campbell, Al (March 2002). "Democratic Planned Socialism: Feasible Economic Procedures".

6734: 6403: 5379: 5198: 5079: 5030: 4931: 4923: 4873: 4863: 4781: 4352: 3715: 3695: 3648: 3323: 3221: 3204: 3192: 3158: 3111: 3077: 3072: 3023: 3005: 2844: 2677: 2636: 2612: 2586: 2555: 2515: 2329: 2274: 2269: 2202: 2192: 1878: 1459: 1426: 1386: 1371: 655: 567: 557: 527: 422: 308: 275: 121: 93: 50: 9826:

Left in the Wilderness: The Political Economy of British Democratic Socialism since 1979

9695:. The Concise Encyclopedia of Economics (2nd ed.). Library of Economics and Liberty 9510: 8578: 3449:

Leon Trotsky was among the earliest Soviet figures that supported economic planning and

2756:

industrialization (1830–1916); the polarisation of socialism around the question of the

1233: 10450: 10184: 10127: 9385: 8629: 8601:

The institutional framework of privatization and competition in economies in transition

7437: 7015: 6115: 5887: 5852: 5815: 5497:

Upton Sinclair's: A Monthly Magazine: for Social Justice, by Peaceful Means If Possible

5473: 5349: 5344: 5264: 5244: 5221: 5213: 5097: 5083: 4816: 4753:

has pursued similar economic reforms to China, though less extensively, resulting in a

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by a state apparatus; direct ownership by the users of the productive property through

3304: 3300: 2772: 2764:

era (1970s–present). As socialism developed, so did the socialist system of economics.

2687: 2535: 2527: 2334: 2294: 2165: 2070: 1689: 1671: 1661: 1654: 1449: 1391: 1223: 1148: 920: 900: 885: 735: 640: 497: 477: 462: 412: 392: 370: 211: 146: 34: 5908:, 2, pp. 267–93, trans. as "The Ministry of Production in the Collectivist State", in 4551:

After the dissolution of the Soviet Union and the Eastern Bloc, many of the remaining

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A centrally planned economy combines public ownership of the means of production with

3787:) and on the dominant form of economic management within the economy (hierarchical or 1010: 10394: 10314: 10252: 10245: 10075: 9885: 9829: 9801: 9756: 9688: 9660: 9633: 9605: 9577: 9417: 9372:

Huff, W. G. (December 1995). "What is the Singapore model of economic development?".

9224: 9203: 9182: 9079: 9058: 8880: 8829:"InfoViewer: China's champions: Why state ownership is no longer proving a dead hand" 8760: 8608: 8560: 8540: 8492: 8471: 8447: 8427: 8407: 8395: 8383: 8363: 8343: 8331: 8319: 8307: 8240: 8228: 8182: 8161: 8102: 8056: 8035: 8014: 7980: 7830: 7781: 7693: 7673: 7639: 7619: 7576: 7441: 7389: 7318: 7294: 7273: 7238: 7206: 7176: 7155: 7100: 7075: 7042: 7035: 7019: 6978: 6949: 6785: 6670:

Wallerstein, Immanuel, The Capitalist World-Economy, 1979, Cambridge University Press

6557: 6475: 6442: 6085: 6060: 6011: 5986: 5965: 5941: 5917: 5838: 5748: 5720: 5691: 5688:

From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation

5669: 5625: 5583: 5579: 5547: 5519: 5389: 5334: 5240: 5236: 5209: 5001: 4950: 4947: 4869: 4777: 4639: 4536: 4436: 4186: 3850: 3803: 3739: 3538: 3534: 3461: 3425: 3168: 3154: 3140: 2990: 2851: 2840: 2723: 2570: 2551: 2187: 1939: 1919: 1706: 1699: 1694: 1341: 1253: 1158: 1020: 950: 855: 840: 607: 547: 502: 487: 447: 382: 161: 151: 88: 9880: 9692: 9076:

Political Thought and China's Transformation: Ideas Shaping Reform in Post-Mao China

4587:. This system is intended to be transitional stage in the development of socialism. 3651:

while all decisive productive assets remain in the ownership of the state, e.g. the

10262: 9858: 9848: 9625: 9597: 9381: 7503: 7429: 7371: 7367: 7007: 6254: 5807: 5575: 5465: 5435: 5421: 5364: 5280: 5231:, who controlled the distribution of military aid to the Republican cause from the 5013: 5008: 4909: 4892: 4886: 4766: 4733: 4690: 4370: 4348: 4324: 4276: 4194: 4190: 4163:

would either reduce the quota for its production or increase the quota for its use.

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societies and some primitive agricultural societies were communal, and called this

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China Since Tiananmen: The Politics of Transition – Joseph Fewsmith – Google Books

8358:

János Kornai, ‘’Economics of Shortage’’, Amsterdam: North Holland; Marie Lavigne,

7757:

Farber, Samuel (1992). "Before Stalinism: The Rise and Fall of Soviet Democracy".

6829: 5063: 2791:

theorists and the first thinker to refer to himself as an anarchist. Others were:

2503:

comprises the economic theories, practices and norms of hypothetical and existing

1283: 945: 675: 10424: 10344: 10189: 10137: 10095: 10013: 9463: 8981: 8797: 8702: 7962:, 1987, Moscow: Progress Publishers, p. 144; Sergei Ilyin and Alexander Motylev, 7876: 7856: 7477: 7293:, 1970, London: Weidenfeld & Nicolson, pp. 94–95, 107, 111–12, 127, 148, 165 7232: 6618: 6564: 5619: 5495: 5404: 5400: 5395: 5374: 5093: 5059: 5050: 4993: 4896: 4853: 4834: 4804: 4796: 4772: 4699: 4602: 4569: 4552: 4304: 4280: 4182: 4122: 3943: 3894: 3755: 3667: 3644: 3542: 3473: 3429: 3407: 3403: 3389: 3385: 3245: 3209: 3136: 2867: 2832: 2812: 2808: 2776: 2734: 2673: 2640: 2608: 2597: 2582: 2304: 2264: 2229: 2125: 2085: 2080: 2047: 1893: 1873: 1863: 1853: 1838: 1818: 1753: 1639: 1564: 1421: 1416: 1361: 1168: 1128: 960: 930: 915: 865: 835: 770: 710: 670: 592: 582: 482: 226: 216: 8605:

Reconstituting the Market: The political economy of microeconomic transformation

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coordination of economic activity through centralised economic planning, e.g. a

3730: 2873:

Other early socialist thinkers were influenced by the classical economists. The

2601: 9718: 7011: 6761: 6756: 6715: 5491: 5260: 5216:

movement of peasants and workers, supported by armed militias, took control of

5153: 5089: 5078:

Various forms of socialist organization based on co-operative decision making,

4839: 4792: 4710:

large state industries. A major difference from the old planned economy is the

4694: 4584: 4340: 4207: 3947: 3835: 3807: 3629: 3465: 3398: 3308: 3229: 3176: 3150: 3017: 2559: 2289: 2105: 1999: 1843: 1376: 1268: 1238: 1228: 1153: 1123: 1118: 1108: 995: 975: 935: 905: 845: 785: 760: 700: 387: 196: 9895: 9484: 7507: 6328: 6080:(2nd ed.). Historical Dictionaries of Religions, Philosophies, and Movements. 3094:

was involved with the Lyons mutualists and later adopted the name to describe

1273: 10439: 10354: 10309: 10272: 10060: 9950: 9793: 9783: 9765: 9656:

The Anarchist Collectives: Workers' Self-Management in the Spanish Revolution

9569: 8507: 8299: 7433: 7224: 7210: 7147: 5359: 5180: 5067: 5043: 4919: 4857: 4845: 4788: 4711: 4611: 4380: 4271: 4174: 3898: 3831: 3802:

is a model of market socialism primarily developed by the American economist

3663: 3225: 3033: 2878: 2816: 2800: 2719: 2632: 2539: 2339: 2324: 2130: 2120: 2110: 2095: 2075: 2004: 1848: 1770: 1681: 1644: 1634: 1624: 1401: 1396: 1263: 1213: 1193: 1188: 1163: 1138: 1035: 940: 860: 780: 755: 680: 617: 452: 251: 9347: 5456:

Lerner, A. P. (October 1938). "Theory and Practice in Socialist Economics".

5000:

also stated that he has been influenced by the democratic socialist British

4144:

allocation through political control. In contrast with systems where prices

3726:'s pamphlet "Workers' Councils and the Economics of a Self-Managed Society". 2635:

to socialism, held that there were two schools of socialist thought, namely

685: 10035: 9980: 9746: 6658: 6650: 6610: 6575:

Nunzio Pernicone, "Italian Anarchism 1864–1892", pp. 111–13, AK Press 2009.

6192:

The Real Rights of Man: Political Economies for the Working Class 1775–1850

6175: 5878:

Taylor, Fred M. (1929). "The Guidance of Production in a Socialist State".

5324: 5276: 5271:, the figure was as high as 75%, although it was lower in areas with heavy 5232: 4997: 4336: 4296: 4218:

and anyone with a private garden plot were free to sell their own produce (

4198: 4181:, the scholarly consensus was that Stalin appropriated the position of the 4118: 4070: 3707: 3625: 3550: 3485: 3478: 3237: 3217: 3126: 3054: 2998: 2757: 2741: 2214: 2090: 1954: 1949: 1944: 1929: 1883: 1858: 1833: 1828: 1775: 1629: 1143: 1093: 1088: 1073: 1030: 1015: 985: 910: 895: 870: 830: 790: 765: 730: 645: 8306:, 1982, Bloomington, IN: Indiana University Press, pp. 188, 194, 200, 208 7415:"State Capitalism versus Communism: What Happened in the USSR and the PRC" 7355: 3549:

rejected the labor theory of value and exchange value itself, advocated a

2573:

provided a foundation for socialism based on analysis of capitalism while

1133: 10070: 9985: 9868: 9838: 9774: 7471:"Socialism Means Abolishing the Distinction Between Bosses and Employees" 7066:

Socialism Revised and Modernized: The Case for Pragmatic Market Socialism

5909: 5904:

Enrico Barone, "Il Ministro della Produzione nello Stato Collettivista",

5295: 5284: 5165: 5149: 4927: 4849: 4737: 4328: 4086: 3967: 3963: 3939: 3935: 3780: 3530: 3526: 3445: 3115: 3013: 3009: 2984: 2952: 2855: 2824: 2796: 2792: 2519: 2279: 2234: 2197: 2175: 2170: 1783: 1758: 1366: 1248: 1083: 1045: 1025: 965: 925: 890: 825: 815: 795: 750: 665: 635: 597: 492: 335: 265: 131: 8257: 8053:

The rise and fall of the Soviet economy: An economic history of the USSR

6209: 6119: 5833:

Roemer, John (1994). "A Brief History of the Idea of Market Socialism".

5717:

Markets in the Name of Socialism: The Left-Wing Origins of Neoliberalism

4610:

Control over the means of production was removed from the state through

4331:

regard mature Soviet systems as neither socialist nor capitalist—but as

4159:

clearing goods by planning: if a surplus of a product accumulated, then

10240: 10142: 9975: 9733: 5891: 5819: 5477: 5339: 4812: 4800:

ownership. They are typically characterized by the following features:

4512: 4421: 4376: 4242: 4219: 4024: in this section. Unsourced material may be challenged and removed. 3979: 3823: 3719: 3591: in this section. Unsourced material may be challenged and removed. 3497:

Socialist economic theories base the value of a good or service on its

3380: 3184: 2923: in this section. Unsourced material may be challenged and removed. 2761: 2729: 2616: 1609: 1577: 1336: 1243: 980: 810: 512: 467: 8260:

Stabilization and growth in transition economies: The early experience

8258:"IMF staff estimates in Stanley Fischer, Ratna Sahay and Carlos Vegh, 8199: 7413:

Gabriel, Satya; Resnick, Stephen A.; Wolff, Richard D. (1 July 2008).

4983:

Singapore pursued a state-led model of economic development under the

4969:, whose partial objective is to prepare Norway for a post-oil future. 3434: 3341:

Management and control over the activities of enterprises is based on

2877:, such as Thomas Hodgskin and Charles Hall, were based on the work of 10389: 8674:"People's Daily Online – China has socialist market economy in place" 8537: