Planning from the bottom up

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Chapter 10 in Approaching Equality, 2017, pp 189-206 from Edward Elgar Publishing

Abstract: Idealists of the left have often called for “planning from the bottom up.†This chapter discusses the failures of Soviet-type planning, but then discusses some examples of planned resource allocation processes within a limited sphere in predominantly market economies that seem to fit the description as “planning from the bottom up.†One instance is the grant-making process of the National Science Foundation. The chapter then speculates that a similar process might be adopted by a Social Endowment Fund at a stage that it might need to function in part as a venture capitalist. Drawing on the mathematical expression of equalitarian values in the appendix to Chapter 3, this appendix derives a scheme of distributionally weighted cost-benefit analysis and speculates as to how it might be implemented in practice.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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