Social Dividends, Entrepreneurial Discretion, and Bureaucratic Rules

Douglas W MacKenzie
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Douglas W MacKenzie: Carroll College

Eastern Economic Journal, 2018, vol. 44, issue 1, No 3, 30-48

Abstract: Abstract The current literature on market socialism neglects the issues of social dividend payment and bureaucratization. Socialism replaces private dividends and financial markets with social dividends and central planning of investment. Socialization of dividends also leads to bureaucratization. Social dividends relate to the Principal–Principal problem of forming rational investment plans. Market Socialists address Principal–Agent problems, but do not address the Principal–Principal problem of forming investment plans.

Keywords: social dividends; economic calculation; financial markets; bureaucracy; entrepreneurship; B24; B53; P51 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1057/eej.2016.5

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