A Future for Socialism

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Harvard University Press, Jan 1, 1994 - Business & Economics - 178 pages
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In this text, Roemer proposes a new future of socialism based on a redefinition of market socialism. The Achille's heel of socialism has always been maintaining innovation and efficiency in an economy in which income is equally distributed. Roemer points out that large capitalist firms have already solved a similar problem: in those firms, profits are distributed to numerous shareholders, yet they continue to innovate and compete. The author argues for a modified version of socialism, not necessarily based on public ownership, but founded on equality of opportunity and political influence.
  

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Contents

Introduction
1
1 What socialists want
11
2 Public ownership
18
3 The long term and the short term
25
4 A brief history of the idea of market socialism
28
5 Why the centrally planned economies failed
37
6 Contemporary models of market socialism
46
7 Public bads and the distribution of profits
55
11 State intervention in the economy
90
12 A digression on investment planning
95
13 Socialism and democracy
109
14 Criticisms of market socialism from the left
117
15 Prospects for the future
124
The value of the coupon dividend
133
Notes
145
References
161

8 A model of a marketsocialist economy
60
9 The efficiency of firms under market socialism
75
10 The Yugoslav experiment
85

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About the author (1994)

John Roemer is Elizabeth S. and A. Varick Stout Professor of Political Science and Economics, Yale University.

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