Socialistic National Economy
A Socialistic National Economy is an national economy that is largely-based based on some form of social ownership/public ownership of the means of production.
- Context:
- It can range from being a Highly-Regulated Socialistic Economy to being a Regulated Socialistic Economy.
- It can (typically) be espoused with a Socialist Economic Ideology (such as within socialist society).
- It can (typically) have some Public Ownership of the Means of Production (by capitalists).
- It can (often) have a high Maximum Personal Tax Rate.
- It can include Worker Cooperatives, over the means of production.
- It can include Market Socialism, coordinated through economic planning and a system of accounting based on calculation-in-kind or a direct measure of labor-time.
- Example(s):
- a North Korea's Economy.
- a China's Economy.
- a Cuba's Economy.
- …
- Counter-Example(s):
- See: Communism, Feudalism.
References
2013
- http://en.wikipedia.org/wiki/Socialist_economics
- Socialist economics refers to the economic theories, practices, and norms of hypothetical and existing socialist economic systems.
A socialist economy is based on some form of social ownership, which includes varieties of public ownership and independent cooperatives, over the means of production, wherein production is carried out to directly produce use-value sometimes, but not always, coordinated through economic planning and a system of accounting based on calculation-in-kind or a direct measure of labor-time.[1][2]
The term socialist economics may also be applied to analysis of former and existing economic systems that call themselves "socialist", such as the works of Hungarian economist János Kornai.[3]
Socialist economics has been associated with different schools of economic thought, most notably Marxian economics, institutional economics, evolutionary economics and neoclassical economics. Early socialism, like Ricardian socialism, was based on classical economics. During the 20th century, proposals and models for planned economies and market socialism were based heavily on neoclassical economics or a synthesis of neoclassical economics with Marxian or institutional economics.
- Socialist economics refers to the economic theories, practices, and norms of hypothetical and existing socialist economic systems.
- ↑ Market Socialism: The Debate Among Socialists, by Schweickart, David; Lawler, James; Ticktin, Hillel; Ollman, Bertell. 1998. From "The Difference Between Marxism and Market Socialism" (P.61-63): "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."
- ↑ Socialism and Calculation, on worldsocialism.org. Retrieved February 15, 2010, from worldsocialism.org: http://www.worldsocialism.org/spgb/overview/calculation.pdf: "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."
- ↑ Kornai, János: The Socialist System. The Political Economy of Communism. Princeton: Princeton University Press and Oxford: Oxford University Press 1992; Kornai, János: Economics of Shortage. Munich: Elsevier 1980. A concise summary of Kornai's analysis can be found in Verdery, Katherine: Anthropology of Socialist Societies. In: International Encyclopedia of the Social and Behavioral Sciences, ed. Neil Smelser and Paul B. Baltes. Amsterdam: Pergamon Press 2002, available for download here [1].
1942
- (Schumpeter, 1942) ⇒ Joseph A. Schumpeter. (1942). “Capitalism, Socialism and Democracy."