Is Socialism Economically Feasible? An Analysis of Marxian Answers

Abstract

Analyses the economics of socialism within the Marxian tradition. The ideas of Marx and Engels are included, as are those of the theorists of the Second International. The debate on market socialism associated with Oskar Lange also receives attention. The evolution of Mises′s and Hayek′s responses is traced, and there is an outline of how economists in Eastern Europe have come to similar conclusions to these Austrians. Concludes with an assessment of the economics of socialism in the work of contemporary theorists.

Citation

Howard, M.C. and King, J.E. (1992), "Is Socialism Economically Feasible? An Analysis of Marxian Answers", International Journal of Social Economics, Vol. 19 No. 7/8/9, pp. 71-89. https://doi.org/10.1108/EUM0000000000488