Venezuelan Economic Laboratory. The Case of the Altruistic Economy of Felipe Pérez Martí

Alejandro Agafonow ()
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Alejandro Agafonow: Departament d'Economia Aplicada, Universitat Autonoma de Barcelona

Working Papers from Department of Applied Economics at Universitat Autonoma of Barcelona

Abstract: Felipe Pérez Martí, who was the Venezuelan Minister of Planning and Development in the government of Hugo Chávez, proposes an economic model that he calls the altruistic economy or fourth way, which leads cooperative game theory to its logical extremes postulating a pure communism. Here we sustain that, first, it is impossible in the model of Pérez Martí to marginally allocate non-primary goods to those most in need or who most value them, facing a problem of defective economic calculation, and second, in order to achieve equality, he would have to replace his atomic local planners by a central planner, who would be unable to overcome the problem of imperfect and and incomplete information.

Keywords: altruism; Nash equilibrium; game theory; planning; communism; equality (search for similar items in EconPapers)
JEL-codes: B5 D5 D7 D8 O2 P2 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2009-11
New Economics Papers: this item is included in nep-hpe
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