On the political economy of socialism: Against the regulation of social relations by markets

Marx's Capital and Capitalism; Markets in a Socialist Alternative

ISBN: 978-0-76230-838-5, eISBN: 978-1-84950-133-0

ISSN: 0161-7230

Publication date: 19 December 2001

Abstract

This paper offers a critique of the theory of market socialism and then proceeds to develop the central point of the argument — that socialism is inherently antithetical to the regulation of social relations by markets — in a more constructive manner. After a brief introduction, a summary of the contemporary market socialist case (second section) and an examination of the conceptual status of the market (third section), it is shown that the institutional arrangements proposed by market socialists are consistently subject to the totalizing rationality of market regulation (fourth section). A critique of market regulation is presented in the subsequent (fifth) section, and some implications for the theorization of the political economy of socialism are drawn out through a discussion of several transformative projects (sixth section). The conclusion outlines a perspective for further enquiry.

Citation

Konings, M. (2001), "On the political economy of socialism: Against the regulation of social relations by markets", Zarembka, P. (Ed.) Marx's Capital and Capitalism; Markets in a Socialist Alternative (Research in Political Economy, Vol. 19), Emerald Group Publishing Limited, Bingley, pp. 107-153. https://doi.org/10.1016/S0161-7230(01)19006-1

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Emerald Group Publishing Limited

Copyright © 2001, Emerald Group Publishing Limited

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