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New Market Socialism: A Case For Rejuvenation or Inspired Alchemy?
New Market Socialism: A Case For Rejuvenation or Inspired Alchemy?
INSPIRED ALCHEMY?
DIMITRIS MILONAKIS *
ÍNDICE
I. INTRODUCTION............................................................................................................................................. 2
I. EARLY MARKET SOCIALISM: THE LANGE MODEL ................................................................................... 4
II. MARKET SOCIALISM AND THE QUESTION OF KNOWLEDGE: THE AUSTRIAN CHALLENGE ............. 6
III. THE QUESTION OF INCENTIVES: MARKET SOCIALISM AND ‘NEW INFORMATION ECONOMICS’.... 7
IV. MODERN VERSIONS OF MARKET SOCIALISM ..................................................................................... 10
V. NEW MARKET SOCIALISM: A CRITIQUE FROM WITHIN........................................................................ 14
VI. TOWARDS A MORE RADICAL CRITIQUE ............................................................................................... 17
VII. BY WAY OF CONCLUSION...................................................................................................................... 21
VIII. REFERENCES ......................................................................................................................................... 22
*Department of Economics, University of Crete. I would like to thank Ben Fine for his painstaking critique of an earlier
draft of this paper. My thanks also go to Costas Lapavitsas, George Argitis, the participants of the Fourth Annual
Conference of the European Society for the History of Economic Thought, Graz, Austria, February 2000 especially my
discussant Stephan Boehm, and the anonymous referees of this journal for helpful comments and suggestions. Last, my
thanks to Stavros Ioannides for his help with the literature on Austrian economics. Any remaining errors are mine alone.