Capitalism Versus Pragmatic Market Socialism: A General Equilibrium EvaluationSpringer Netherlands, 31 okt 1993 - 152 pagina's Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation contains important contributions both to general economic theory and to the evaluation of potential market socialist economic systems. As a contribution to economic theory, the general equilibrium model utilized in the research introduces the concept of `capital management effort' as a third primary factor of production (in addition to labor and saving) provided by private households. Capital management effort represents such things as corporate supervision, investment analysis, entrepreneurship, and related activity by the household which is intended to increase the rate of return on its capital wealth. As a contribution to the evaluation of market socialism, this research sheds powerful illumination on the potential performance of a specific variant of market socialism known as `pragmatic market socialism'. Pragmatic market socialism is a plan of market socialism designed to work `almost exactly' like contemporary capitalism. The key differences would be the enforcement of a profit incentive on the publicly owned corporations by an agency designated the Bureau of Public Ownership, and the distribution of the preponderance of capital property return produced by the publicly owned corporations as a social dividend supplement to the household's wage and salary income. The analysis reported in this book shows precisely under what conditions pragmatic market socialism would perform better than capitalism, and under what conditions the opposite would be true. The fundamental implication forthcoming from the research is that the potential performance of pragmatic market socialism relative to capitalism is an empirical rather than a theoretical question. |
Overige edities - Alles bekijken
Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation James A. Yunker Gedeeltelijke weergave - 2012 |
Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation James A. Yunker Geen voorbeeld beschikbaar - 1993 |
Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation James A. Yunker Geen voorbeeld beschikbaar - 2012 |
Veelvoorkomende woorden en zinsdelen
aggregate argument Austrian school benchmark solution benchmark value BPO agents BPO households BPO personnel Bureau of Public capital management effort capital owners capital property income capital property return capital wealth inequality capitalist economy capitalist variant Chapter comparative statics contemporary capitalism decile households distribution of capital effective assets effective wage efficiency elasticity of capital entrepreneurial equilibrium model evaluation financial assets firms Gini coefficient highest decile marginal product market socialist economy market socialist proposal market socialist variant matic market socialism ment effort non-BPO households ordinary labor output elasticity Pareto Pareto efficient people's capitalism percent performance physical capital pragmatic market socialism pragmatic market socialist private saving production function proportion Public Ownership rate of return real-world relative retention coefficient social dividend distribution social dividend fund social dividend income social saving social welfare sum of utilities supply curve Table tax rate tion total factor productivity unearned utility function utility function parameters Yunker диі