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Roemer and Market Socialism

Christopher Wonnell

Review of Social Economy, 1998, vol. 56, issue 1, 37-46

Abstract: Professor John Roemer has defended a future market socialist order. His model would encompass an egalitarian coupon market for the ownership of firm shares, a private sector for firms below a certain size, a system of public bank loans for the raising of capital, and an industrial policy of differential interest rates for various economic sectors. This paper argues that such a model would generate perverse incentives for firms, shareholders, public officials, and private entrepreneurs. It also argues that Roemer's contention that such a model would produce a more environmentally sensitive polity is problematic.

Keywords: market socialism; Roemer; environment; externalities (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1080/00346769800000003

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