New market socialism: a case for rejuvenation or inspired alchemy?

Dimitris Milonakis ()

Cambridge Journal of Economics, 2003, vol. 27, issue 1, 97-121

Abstract: The aim of this paper is to examine the relative merits and drawbacks of two recent models of market socialism proposed by Bardhan and Roemer. This is done, first, by putting these models into the perspective of the history of economic thought. Thus, after presenting the basic elements of the early Lange model as well as the Austrian and 'new information economics' critiques, the necessary comparisons and contrasts are made to see what new light these new models bring into this debate. In addition, the internal consistency and coherence of these models is checked in terms of their own proclaimed goals. Last, a more radical methodological critique is provided. Copyright 2003, Oxford University Press.

Date: 2003
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