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A socialist economy is based on public ownership or independent cooperative ownership of the means of production, wherein production is carried out to directly produce use-value, usually, but not always, coordinated through economic planning and a system of accounting based on calculation-in-kind or labor-time. 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. Socialist economics have been associated with different schools of economic thought, most notably Marxian economics, Institutional economics and Evolutionary economics. Early socialism, like Ricardian socialism, was based on Classical economics, and some forms of market socialism are based on the Neoclassical school of economics. A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit. Goods and services would be produced for their physical utility and 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 business cycle inherent to capitalism. In most socialist theories, economic planning only applies to the factors of production and not to the allocation of goods and services produced for consumption, which would be distributed through a market. Karl Marx stated that "lower-stage communism" would consist of compensation based on the amount of labor one performs. The ownership of the means of production varies in different socialist theories. It can either be based on public ownership by a state apparatus; direct ownership by the users of the productive property through worker cooperative; or commonly owned by all of society with management and control delegated to those who operate/use the means of production. Management and control over the activities of enterprises is based on self-management and selfgovernance, 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 decisionmaking power in 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. However, the economies of the former Socialist states, excluding SFR Yugoslavia, were based on bureaucratic, top-down administration of economic directives and micromanagement of the worker in the workplace inspired by capitalist models of scientific management. As a result, socialists have argued that they were not socialist due to the lack of equal power-relations in the
thereby achieving pareto efficiency. rather than its cost of production (labor theory of value) or its exchange value (Marginal Utility). which specified output requirements for productive units and tried to micromanage the decisions and policies of enterprises. For example. and thus marginal utility. Decision-making is carried out by workers and consumers on the enterprise-level. Other socialist theories. which existed in the Soviet Union. which is based on indirect allocation. Socialist economies in theory . regardless of their intellectual capacity. and was based on a highly bureaucratic administration of the entire economy in accordance to a comprehensive plan formulated by a central planning agency. the exact nature of the USSR et al remains unresolved within the socialist movement Economic planning is a mechanism for the allocation of economic inputs and decision-making based on direct allocation. The labor-time expended by each worker would correspond to labor credits. Leon Trotsky believed that central planners. which would be used as a currency to acquire goods and services. Economic planning in socialism takes a different form than economic planning in capitalist mixed economies (such as Dirigisme. such as Oskar Lange and Abba Lerner. Various advocates of economic planning have been staunch critics of command economies and centralized planning. Economic planning is not synonymous with the concept of a command economy. so that allocation comes in the form of internal transfers rather than market transactions involving the purchasing of assets by one government agency or firm by another. such as mutualism and market socialism. Socialist economic theories base the value of a good or service on its use value. These economic and social systems have been classified as being either Bureaucratic collectivist. so that the price of a good or service is adjusted to equal the amount of labor time expended in its production. State capitalist or Deformed workers' states. Coordinatorist. An economy based on economic planning appropriates its resources as needed. and because of the commodity production that took place in these economies. have proposed that publicly-owned enterprises set their price to equal marginal cost. 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. in contrast to the market mechanism. but applies it to the entire economy. Therefore.workplace. The command economy is based on the organizational model of a capitalist firm. Central banking and Indicative planning). central planners would be unable to effectively coordinate all economic activity because they lacked this informal information. attempt to apply the labor theory of value to socialism. while in the latter case planning refers to the planning of capital accumulation in order to stabilize or increase the efficiency of this process. in the former case planning refers to production of use-value directly (planning of production). Market socialists that base their models on neoclassical economics. the presence of a new "elite".
In this view. another form of market socialism in which publicly owned. which defines socialism as a set of values rather than a specific type of social and economic . e. where socialism is a stage of economic development in which wage labour. Public Enterprise Employee Managed Market Economies. 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. in contrast to the "anarchy of production" of capitalism.g. Social Democratic concept. socialist market economy in China after reform. as well as in Cornelius Castoriadis's pamphlet "Workers' Councils and the Economics of a Self-Managed Society" Additionally. e.g. the former Soviet Union. Public Enterprise State-Managed Market Economy. the model generally adopted by social democrats e.g.g. stateless communism. where public and private ownership are mixed.Robin Hahnel and Michael Albert identify five economic models within the rubric of socialist economics: y y y y y 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. and an ideology hostile toward markets and political dissent. libertarian socialism.g. based on the capitalist mode of production. e. More developed theoretical models include those of Karl Polanyi. employee-managed production units engage in free market exchange of goods and services with one another as well as with final consumers. e. so that capital accumulation has been superseded by economic planning. A mixed economy. one form of market socialism which attempts to use the price mechanism to increase economic efficiency. 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. an economy featuring social ownership of the means of production with allocation based on an integration of decentralized democratic planning. private property in the means of production and monetary relations have been made redundant through the development of the productive forces. mid twentieth century Yugoslavia. in twentieth century Sweden. with prices for producer goods set through a trial-and-error method by a central planning board. socialism is defined in terms of de jure public property rights over major enterprises. Walrasian / Market Socialist which defines socialism as public-ownership or cooperative-enterprises in a market economy. with coordination of economic activity through centralised economic planning (a "command economy"). Participatory Economics and the negotiated coordination model of Pat Devine. while all decisive productive assets remain in the ownership of the state. Janos Kornai identifies five distinct classifications for socialism: y y y y Classical / Marxist conception. and where industrial planning is ultimately subordinate to market allocation. Public Enterprise Participatory Planning. Two more theoretical models are Prabhat Ranjan Sarkar's Progressive Utilization Theory and Economic democracy. An incipient historical forebear is that of Catalonia during the Spanish revolution. Leninist conception.
Today India is often characterized as having a freemarket economy that combines economic planning with the free-market. instead they try to ameliorate the effects of capitalism through a welfare state. however. almost all of the economic systems listed below have largely retained elements of capitalism such as wage labor and commodity production.y organisation. based on a largely free-market. Nonetheless. It includes unconditional support for parliamentary democracy. However. effectively paid a wage for their labour.  Socialist economies in practice Although a number of economic systems have existed with various socialist attributes. capital accumulation for profit and substantial private ownership along with state-ownership of strategic industries monopolised by a single political party. it did not abolish private property in capital. Like other countries with a democratic transition to a mixed economy. 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 USSR or China. They dispensed almost entirely with private ownership of capital. Gosplan. some Marxists consider this a misunderstanding of Marx's views of historical materialism. or have been deemed socialist by their proponents. Janos Kornai ultimately leaves the classification of this model (as either socialist or capitalist) to the reader. It did however adopt a very firm focus on national planning with a series of broad Five-Year Plans. and support for socially progressive causes. Some believe that according to Marxist theory this should have been a step towards a genuine workers' state. various elements of a socialist economy have been implemented or experimented Main article: Economy of India After gaining independence from Britain. Social democrats are not opposed to the market or private property. with in various economies throughout history Union of Soviet Socialist Republics Main article: Economy of the Soviet Union See also: Ministry of Finance (Soviet Union). India adopted a broadly socialist-inspired approach to economic growth. and his views of the process of socialization. India proceeded by nationalizing various large privatelyrun firms. Workers were still. and Five-Year Plans for the National Economy of the Soviet Union The Soviet Union and some of its European satellites aimed for a fully centrally planned economy. East Asian model. or socialist market economy. gradual and reformist attempts to establish socialism. The characteristics of this model of economy were: . 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.
the management was elected by directly by the workers in each firm. The state also provides substantial public housing. Clearing goods by planning : if a surplus of a product was accumulated. including the classicals. claiming. in the Soviet Union. then the central planning authority would either reduce the quota for its production or increase the quota for its use. allocation. A farm. as well as from some anarchist economists. y . free education. Yugoslavia developed a market socialist system where enterprises and firms were socially owned rather than publicly-owned by the state. as well as comprehensive public transportation. Rather than implementing a centrally-planned economy. Singapore's economy is dominated by state-owned enterprises and government-linked companies through Temasek Holdings. The central planning administration adjusted relative wages rates to influence job choice in accordance with the outlines of the current plan. and such prices did not factor into choices about what was produced and how it was produced in the first place. Five Year Plans for the long-term development of key industries. Full employment. y y y y y y y y y y Socialist Federal Republic of Yugoslavia Main article: Economy of SFR Yugoslavia Yugoslavia pursued a socialist economy based on autogestion or worker-self management. neoclassicals and Austrians. However workers were generally not directed to jobs. which initially adopted a Leninist approach to politics and a broad socialist model of economic development. The PAP was initially a member of the Socialist International. Besides this. mine or factory was judged on the basis of whether its production met the quota. Main article: Economy of Singapore Singapore pursued a state-led model of economic development under the People's Action Party. The prices that were constructed were done so after the formulation of the economy plan. In these organizations. health and recreational services. It would be provided with a quota of the inputs it needed to start production. Today Singapore is often characterized as having a state capitalist economy that combines economic planning with the free-market.y Production quotas for every productive unit. Allocation through political control. particularly of means of production was determined by the bureaucracy. especially since the manager's bonuses were linked to the fulfillment of quotas. moderate state planning in the economy has been reduced in recent decades. Libertarian socialist. and were later organized according to Edvard Kardelj's theory of associated labor Criticism of socialist economics comes from market economists. which generate 60% of Singapore's GDP. Critics[who?] of both left and right persuasions have argued that the economy was plagued by incentive-related problems. for instance. and then its quota of output would be taken away and given to downstream production units or distributed to consumers. that the system incentivized enterprise managers to underreport their unit's productive capacities so that their quotas would be easier to achieve. While government-linked companies generate a majority of Singapore's GDP. some socialist economic theories are criticized by other socialists. In contrast with systems where prices determined allocation of resources. Every worker was ensured employment.
Mises called this the economic calculation problem. Mises called socialism "economic insanity". where there is a functioning price mechanism. have argued that the elimination of private ownership of the means of production would inevitably create worse economic conditions for the general populace than those that would be found in market economies. calculations in kind can never cover more than consumption goods. In a community that does not practice exchange. but the spoiler of what thousands of years of civilization has created. Every step that moves away from private ownership of the means of production is a step away from rational economic calculation Von Mises also pointed out socialism's tendency to consume capital. socialism is not in the least what it pretends to be. Destruction is the essence of it. in that it achieves Pareto efficiency. If the intellectual dominance of socialism remains unshaken. They argue that within a socialist planned economy there is a lack of incentive to act on information. which they consider necessary for rational economic calculation. has similar properties to a market economy under perfect competition. Market economists generally criticise socialism for eliminating the free market and its price signals. All efforts to realize socialism leads only to the destruction of society. while towns become deserted. as it is the motivation to act on information. It does not build. and only consumes what the private ownership of the means of production has created. The farmer will return to the self-sufficiency of the closed. The population of the industrial societies will die out or migrate elsewhere. it destroys. not a lack of information in a planned economy. it is impossible to calculate rationally how to allocate resources. The neoclassical view is that there is a lack of incentive. and market socialist economists. It produces nothing. each step leading towards socialism must exhaust itself in the destruction of what already exists. unless it be a fragment of socialism within an economic order resting otherwise on private property. For a socialist order of society is unrealizable. Therefore. such as Friedrich Hayek and Ludwig Von Mises. They also consider that it causes lack of incentive. They break down entirely once goods of higher order are concerned. It is not the pioneer of a better world. They believe that these problems lead to a slower rate of technological advance and a slower rate of growth of GDP. Factories. Socialism. criticize centralized economic planning and propose participatory economics and decentralized socialism. and railways will come to a standstill. mines. The Lange model states that an economy in which all production is performed by the state. whose accumulation is the source of economic progress: In fact. for example. the crucial missing element is not so much information as the Austrian school argued.y y y y y y y y y mutualist. Polish economist Oskar Lange and Abba Lerner attempted to rebut Mises' argument by developing the Lange Model during the Economic calculation debate. They argue that without the price signals of the market. Since a socialist order of society cannot exist. Von Mises warned his audience against the consequences of socialist economics. Austrian school economists. . In conclusion. In his work. Ludwig Von Mises criticized socialism for its inability to calculate rationally: To suppose a socialist community could substitute calculation in kind for calculation in terms of money is an illusion. then in a short time the whole cooperative system that Europe has built up for thousands of years will be shattered.
Without private ownership of the means of production there is. and "mix" with elements of each other. The relative strength or weakness of each component in the national economy can vary greatly between countries. while not being a perfect representation. that is. when a system in question diverges to a significant extent from . The economic freedom side includes privately owned industry for reasons including individual freedom. in the long run. Mixed economies as an economic ideal are supported by people of various political persuasions. Economies ranging from the United States to Cuba have been termed mixed economies. including Ludwig von Mises and Friedrich von Hayek. As most political-economic ideologies are defined in an idealized sense. although similar views were expressed by Conservatives including Harold Macmillan. or various planned economies. typically centre-left and centre-right. argued that what is called a mixed economy is a move toward socialism and increasing the influence of the state. The term "mixed economy" arose in the context of political debate in the United Kingdom in the postwar period. Anthony Crosland and Andrew Shonfield were mostly associated with the British Labour Party. In some mixed economies. although the set of policies later associated with the term had been advocated from at least the 1930s. but the definitions always involve a degree of private economic freedom mixed with a degree of government regulation of markets. H. in addition to having a variety of government sponsored aspects. and maintenance of competition. Supporters of the mixed economy. Most would not consider it unreasonable to label an economy that. what is described rarely if ever exists in practice. See (Elements of a mixed economy) There is not one single definition for a mixed economy. Most mixed economies can be described as market economies with strong regulatory oversight. no production other than hand-to-mouth production for one's needs.domestic economy. The government regulation side addresses concerns that the private sector cannot be (or at least has never yet been) well equipped to address. such as social democrats or Christian democrats. Mixed Economy A mixed economy (or balanced economy) is an economy that includes a variety of private and public control. reflecting characteristics of both capitalism and socialism.[ The term mixed economy is used to describe economic systems which stray from the ideals of either the market. Supporters view mixed economies as a compromise between classic socialism and pure laissezfaire capitalism that is functionally superior to either one. including R. maintenance of employment standards. such as environmental protection. it even includes various degrees of centralized economic planning. very closely resembles an ideal by applying the rubric that denominates that ideal. state ownership of some of the means of production for national or social objectives. However. economic efficiency (most especially the allocative efficiency provided by the invisible hand of markets). Tawney. and the incentive to innovate provided by competition. Critics of the British mixed economy.
the USPS enjoys a government monopoly on nonurgent letter mail as described in the Private Express Statutes. As it is unlikely that an economy will contain a perfectly even mix. A mail truck. as we understand a "mixed economy" being a combination of governmental enterprise and free-enterprise. by the state. nearly every economy to develop in human history meets this definition. It may be argued that the historical tendency of power holders in all times and places to limit the activities of market actors combined with the natural impossibility of monitoring and constraining all market actors has resulted in the fact that. or mixed. or toward a market economy or command economy in varying degrees.S.. the term "mixed economy" was coined. owned or controlled. There is not a consensus on which economies are capitalist. socialist. the task of identifying it can become problematic. toward capitalism or socialism. though some systems may be so close to being completely one way or the other that to call them mixed is redundant and it is more meaningful just to call them a free market economy or a command economy The elements of a mixed economy typically[according to whom?] include a variety of freedoms: A TGV train in Marseille operated by the publicly owned SNCF. In many countries. For example. mixed economies are usually noted as being skewed towards either private ownership or public ownership. in the U. .an idealized economic model or ideology. the rail network is partly or completely. Restrictions are sometimes placed on private mail systems by mixed economy governments. Hence.
factories. petitions. for workers and owners to go to where needed) to buy (items for personal use. advertisements. non-profit groups. make laws friendly to profit making and workers alike.) to communicate (free speech. etc. make deals. subsidized. books. etc. labor unions. buy whole enterprises to make the organization that creates wealth a form of wealth itself) to sell (same as buy) to hire (to create organizations that create wealth) to fire (to maintain organizations that create wealth) to organize (private enterprise for profit. In most countries the state plays some role in the provision of health care. gas) water systems for drinking. oil. mail and other communication services electricity and other energy services (e. to make deals in person. and services: y y y y y y y y y y y y libraries and other information services roads and other transportation services schools and other education services hospitals and other health services banks and other financial services telephone.g. y y y y y y y y y y to possess means of production (farms. infrastructure.This hospital run by the National Health Service in the United Kingdom. create markets) to protest peacefully (marches. and waste disposal subsidies to agriculture and other businesses government-granted monopolies to otherwise private businesses legal assistance Government-funded or state-run research and development agencies . sue the government. agriculture. stores. newspapers. or state-owned factors of production.) to participate in managerial decisions (cooperative and participatory economics) to travel (needed to transport all the items in commerce. remove pointless inefficiencies to maximize wealth creation) with tax-funded. religions. workers' and professional associations. create business partners. for resale.
however. politics and culture. geography. There is. but may never destroy or absorb them". creation of goods or services for profit in a market. with profit sent to the owners. most forms of government are consistent with some form of mixed economy. varying in time. They referred back to Pope Paul VI's statement that government "should supply help to the members of the social body. and some define it more loosely where merely .and providing some autonomy over personal finances but including involuntary spending and investments such as transfer payments and other cash benefits such as: y y y y welfare for the poor social security for the aged and infirm government subsidies to business mandatory insurance (example: automobile) and restricted by various laws. little controversy that private ownership of the means of production. Some define capitalism as where all the means of production are privately owned. They wrote that a socially just mixed economy involves labor. and the state working together through a pluralistic system that distributes economic power widely. However. and wages are paid to workers. and prices and wages are elements of capitalism. given the broad range of economic systems that can be described by the term. air) labor regulation including minimum wage laws consumer regulation (example: product safety) antitrust laws intellectual property laws incorporation laws protectionism import and export controls. Williams of the University of Notre Dame have argued that Catholic social teaching naturally leads to a mixed economy in terms of policy. in other words the Capitalists. water. Authors John W. who have invested money in businesses. nor how the term should be used as an analytical category. regulations: y y y y y y y y environmental regulation (example: toxins in land. There is no consensus on the precise definition of capitalism. There are a variety of historical cases to which the designation is applied. management.[ Capitalism Capitalism is an economic system in which the means of production are privately owned and operated for profit. such as tariffs and quotas and taxes and fees written or enforced with manipulation of the economy in mind The mixed economy is most commonly associated with social democratic forms of government. Houck and Oliver F. Income in a Capitalist system is split between the business owners and the workers.
thus greatly facilitating specialization and trade through encouraging the exchange of commodities. televisions. wage labor and class. as a deliberate economic system. Capital goods (i. who uses it. and final means of payment.. Money was primarily a standardized medium of exchange. industrial machines. and on property rights. The three inputs required for production are labor. and the right to the revenue generated by the property. developed incrementally from the 16th century in Europe. that are not associated with particular producers or brands and trade on organized exchanges. as well as the rules defining private property. Capitalism became dominant in the Western world following the demise of feudalism. land (i. . Most political economists emphasize private property. vehicles and factories) are used to produce consumer goods (e. whether to sell or rent it. similar to precious metals.e. tools. "Commodities" refers to standard products. Economists usually emphasize the degree that government does not have control over markets (laissez faire). collectively or through a state apparatus that operates for a profit or serves the interests of capital owners. goods and services. cars.. political economists and historians have taken different perspectives on the analysis of capitalism. houses) to be sold to others. and many states have what are termed mixed economies. especially raw materials such as grains and metals. Capitalism involves the further abstraction of money into other exchangeable assets and the accumulation of money through ownership. There is general agreement that capitalism encourages economic growth. computers. Economists. interest and various other financial instruments. and in the 19th and 20th centuries. and early aspects of merchant capitalism flourished during the Late Middle Ages. that serves to measure the value all goods and commodities in a standard of value. Capitalism entails the private ownership of the latter two ² natural resources and capital goods ² by a class of owners called capitalists. The extent to which different markets are free. is a matter of politics and policy. Capitalism. regardless of legal ownership titles.e."most" are in private hands ² while others refer to the latter as a mixed economy biased toward capitalism. More fundamentally. Private ownership in capitalism implies the right to control property. power relations. besides serving as a medium of exchange for labour.g. either individually. However. natural resources. which exist prior to human beings) and capital goods. although proto-capitalist organizations existed in the ancient world. Capitalism gradually spread throughout Europe. It eliminates the cumbersome system of barter by separating the transactions involved in the exchange of products.. money is also a store of value. Today the capitalist system is the world's most dominant form of economic model. others define capitalism as a system where production is carried out to generate profit and governed subject to the laws of capital accumulation. exchange. Capitalist economics developed out of the interactions of the following elements. A product is any good produced for exchange on a market. There are two types of products: capital goods and consumer goods. it provided the main means of industrialization throughout much of the world. raw materials. including determining how it is used.
Supply is the amount of a good or service produced by a firm and which is available for sale. the government does not prohibit private property or prevent individuals from working where they please. with a given quantity (Q) sold of the product. Role of government Further information: Competition regulator. a monopoly or cartel may develop. S) and the desires of those with purchasing power at each price (demand. A rise in demand from D1 to D2 would result in an increase in price from P1 to P2 and an increase in output from Q1 to Q2. and fall when supply exceeds demand.Labour includes all physical and mental human resources. competition leads to innovation and more affordable prices. In a capitalist economy. This results in a market equilibrium. A cartel is a group of firms that act together in a monopolistic manner to control output and raise prices. Competition arises when more than one producer is trying to sell the same or similar products to the same buyers. The government does not prevent firms from determining what . the firm can therefore limit output and raise prices because it has no fear of competition. including entrepreneurial capacity and management skills. which are needed to produce products and services. the prices of goods and services are controlled mainly through supply and demand and competition. Consumer protection. D).[ The market The price (P) of a product is determined by a balance between production at each price (supply. the market is able to coordinate itself when a new equilibrium price and quantity is reached. In theory. A monopoly occurs when a firm supplies the total output in the market. and Competition law In a capitalist system. Without competition. Prices tend to rise when demand exceeds supply. Production is the act of making products or services by applying labour power to the means of production. In capitalist theory. Demand is the amount that people are willing to buy at a specific price.
however. Notable critics of capitalism have included: socialists. large corporations can form near-monopolies in some industries. communists. Many aspects of capitalism have come under attack from the anti-globalization movement. In many countries. prisoners. Many countries have competition laws that prohibit monopolies and cartels from forming. the government regulates the flow of capital and uses financial tools such as the interest rate to control factors such as inflation and unemployment. In addition. as well as financing a wide range of programs. social democrats. Government agencies regulate the standards of service in many industries. public utilities (e. due to high economies of scale. Shakers and some types of nationalists. developed the Law of Social Cycle to identify the problems of capitalism. communications) are able to operate as a monopoly under government regulation. Under some versions of capitalism. Sarkar. Traditional Judaism. imperialism. a tendency toward market monopoly or oligopoly (and government by oligarchy). Many socialists consider capitalism to be irrational. although alternative methods of banking have been developed. electricity. Such firms can temporarily drop prices and accept losses to prevent competition from entering the market. in that production and the direction of the economy are unplanned.g. unemployment. Marxists have advocated a revolutionary overthrow of capitalism that would lead to socialism. Critics of capitalism associate it with: unfair distribution of wealth and power. and then raise them again once the threat of entry is reduced. . and Islam forbid lending money at interest. Environmentalists have argued that capitalism requires continual economic growth. Luddites. Many countries. and economic instability. supervising public utilities and enforcing private contracts. Some Christians have criticized capitalism for its materialist aspects. repression of workers and trade unionists. and that it will inevitably deplete the finite natural resources of the Earth. Despite antimonopoly laws. social alienation. such as issuing money. such as airlines and broadcasting. which is primarily opposed to corporate capitalism. Narodniks. anarchists. creating many inconsistencies and internal contradictions.R. Many religions have criticized or opposed specific elements of capitalism. the government carries out a number of economic functions. have minimum wage laws and minimum safety standards. and other coerced persons ² is compatible with capitalist relations. Indian philosopher P. technocrats. indentured servants. heating fuel.wages they will pay and what prices they will charge for their products. Labor historians and scholars such as Immanuel Wallerstein have argued that unfree labor ² by slaves. founder of the Ananda Marga movement. economic inequality. Christianity. some types of conservatives. before eventually transforming into communism. counterrevolutionary wars and various forms of economic and cultural exploitation.
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