The Economics of Feasible Socialism
TL;DR: The legacy of Marx and the Law of Value under socialism is discussed in this article. But the main focus of this paper is on the economic aspects of the transition from capitalism to socialism.
Abstract: Introduction: Socialism Part 1 The Legacy of Marx * What Did Marx Mean By Socialism? * Abundance, Scarcity and The New Man * The Law of Value Under Socialism * A Digression on Marxian Economics * Sancta Simplicitas * The Ex Ante Illusion * Quality And Quantity * Division of Labour * Material and Moral Incentives * The Proletariat and Productive Labour * The Legacy of Marx: Some Conclusions * Addendum: More on Human Psychology and 'Reductionism' Part 2 Socialism and The Soviet Experience * Introduction * Externalities and 'Internalities' * Shortages and the Sellers' Market * Plan Indicators And The Evaluation of Performance * The 'Curse of Scale', Innovation and Bureaucratic Fragmentation * Is it Planning? * Class Structure, Labour, Wages and Trade Unions * Agriculture and The Peasants * Investment Decisions and Criteria in Theory and Practice * Prices in Theory and Practice * Mathematical Methods and Programming * Growth and Full Employment * Foreign Trade * The Cost of What Is Missing * Conclusion: Centralised Planning and Democratic Socialism * A Short Digression on 'Ideology' Part 3 Reform Models: Hungary, Yugoslavia, Poland, China * Some 'Revisionist' Critiques * The Hungarian Reform * Yugoslavia and Workers' Self-Management * Private Agriculture in Yugoslavia and Poland: Peasants and Farmers * The Polish Experience: the Road to Catastrophe * China: Leap Forward, Cultural Revolution and Reform Part 4 Transition * Some Introductory Remarks * Transition I: From Capitalism to Socialism * Some Thoughts on Nationalism * Transition II: From 'Socialism' to Socialism * 'Development Socialism' Part 5 Feasible Socialism * Some Social-Political Assumptions * Enterprises, Markets and Competition * Prices, Profits, and Theory of Value * Division of Labour, Income Differentials and Self-Management * Investments and Growth * Foreign Trade * The Economic Role of Democratic Politics * Is It Socialism? Conclusion
Citations
More filters
TL;DR: The authors analyzes China's institution, a regionally decentralized authoritarian system where the central government has control over personnel, whereas subnational governments run the bulk of the economy; and they initiate, negotiate, implement, divert, and resist reforms, policies, rules, and laws.
Abstract: China's economic reforms have resulted in spectacular growth and poverty reduction. However, China's institutions look ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve the "China puzzle," this paper analyzes China's institution—a regionally decentralized authoritarian system. The central government has control over personnel, whereas subnational governments run the bulk of the economy; and they initiate, negotiate, implement, divert, and resist reforms, policies, rules, and laws. China's reform trajectories have been shaped by regional decentralization. Spectacular performance on the one hand and grave problems on the other hand are all determined by this governance structure. ( JEL O17, O18, O43, P21, P25, P26)
1,604 citations
TL;DR: The New Institutionalism is a recent development in organization theory with great relevance to accounting research as mentioned in this paper, where accounting practices are viewed as one of a larger set of features that can legitimize organizations through construction of an appearance of rationality and efficiency.
Abstract: The New Institutionalism is a recent development in organization theory with great relevance to accounting research. New institutionalists view accounting practices as one of a larger set of features that can legitimize organizations through construction of an appearance of rationality and efficiency. Ceremonial adherence to legitimate norms may have little material impact because formal organizational structure is decoupled from actual organizational processes. Whether substantial decoupling undermines organizational legitimacy, who the key audiences for organizational appearances are, and the relation between technical and institutional factors, are key issues that remain unsettled in new institutionalist research.
537 citations
Book•
15 Dec 2006
TL;DR: The first proper global account of the place of technology in twentieth century history, "The Shock of the Old" as mentioned in this paper, is based on a different idea that for the full picture of the history of technology we need to know not about what a few people invented, but about what everyday people used - and when they actually used things, if it was a long time after invention.
Abstract: The first proper global account of the place of technology in twentieth century history, this brilliant, thought-provoking book will radically revise our understanding of the relationship between technology and society. Whereas standard histories of technology give tired old accounts of the usual inventions - planes, bombs - "The Shock of the Old" is based on a different idea. Its thrust is that for the full picture of the history of technology we need to know not about what a few people invented, but about what everyday people used - and when they actually used things, if it was a long time after invention. It, therefore, reassesses the significance of, for example, the Pill and IT, and shows the continued importance of technology, such as corrugated iron and sewing machines. In taking this approach, "The Shock of the Old" challenges the idea that we live in an era of ever increasing change and so dismisses naivetes about 'the information age'. Interweaving political, economic and cultural history, it will show what it means to think critically about technology and its importance.
492 citations
TL;DR: This paper reviewed the sociological literature on the transition from socialism to capitalism and showed that during the transition ex-communist cadres maintain their advantageous position and do especially well in the more dynamic corporate segment.
Abstract: This article reviews the sociological literature on the transition from socialism to capitalism. It distinguishes between the erosion and transition phases and between traditional and corporate segments in the emerging private sector. Panel survey data from Hungary show that during the transition ex-communist cadres maintain their advantageous position and do especially well in the more dynamic corporate segment. They are successful because human capital is important in both capitalism and socialism and because the cadres are able to convert past political power to economic advantage. Contrary to the findings of studies based only on agriculture, the transition increases income inequalities.
442 citations
TL;DR: The Hungarian economy has undergone major systemic changes in the past thirty years as mentioned in this paper, and the impact of the reform is felt by every Hungarian citizen, however, the influence of the Hungarian experience does not stop at the borders of this small Eastern European country.
Abstract: This chapter addresses the general readership of this book, not only the specialist in comparative systems and socialist economies; therefore, it cannot avoid including information known to the experts. It focuses on phenomena that prevailed throughout the 1968–1985 period and characterize the present state of affairs, with only occasional backward glances. The Hungarian economy has undergone major systemic changes in the past thirty years. The impact of the reform is felt by every Hungarian citizen. The influence of the Hungarian experience, however, does not stop at the borders of this small Eastern European country. Reform is a notion used widely by many parties and political movements all over the world. The modernization of a highly bureaucratic regulation of the economy with the aid of computers is not “reform.”
382 citations