Market Socialism
Not to be confused with
Capitalist Communism.
"There is but one mode by which man can possess in perpetuity all the happiness which his nature is capable of enjoying, - that is by the union and co-operation of all for the benefit of each."
Market Socialism, clipped to MarkSoc, is an economically left-wing ideology that is unique as a leftist ideology in that it is one of the few that views markets as beneficial. Market Socialism was born in the 18th Century, when what would later be known as
Classical Liberalism and
Mutualism had their first lovechild, who was first written about in The Wealth of Nations by Adam Smith.
MarkSoc wants widespread workers' self-management within the framework of a market economy. Each worker can either directly own their workplace or vote to elect their managers.
History
Market Socialism emerged as a response to classical liberalism, in fact, the most widely known Market-Socialist literature, the Principles of a Political Economy is a series of essays by John Stuart Mill as a direct response to the Wealth of Nations.
Conceptions
Cooperatives
A cooperative (co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise." Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. They differ from collectives in that they are generally built from the bottom-up rather than the top-down.
Employee Funds
The wage-earner fund was a Swedish proposal by
Rudolf Meidner to transition from a
social democratic economy to a
market socialist one. Companies with more than 50 employees would have 20% of their profits taxed to allow the funds to buy up shares in the companies. Since the trade union representatives control those funds, collective employee ownership will be attained after two decades.
Illyrian model
Prominent economists in Yugoslavia, such as Jaroslav Vaněk and Branko Horvat, advocated for this type of Market Socialism. Workers would be the owners of their enterprises, and daily management would abide by the one worker, one vote principle. Profits from the worker co-ops will directly compensate the employees within. Each labor-managed firm will compete in open and free markets, and they may be able to form cooperative federations. It's possible to have a
laissez-faire form of market socialism with this, similar to
Mutualism.
Titoism/Self-governing socialism
Like the Illyrian model, workers' self-management was also implemented via worker councils. The difference was that government intervention in the economy was far-reaching. The workers didn't own the firms they worked in, or as the 1974 constitution put it, "...no one has rights of ownership over the social means of production..." Like many other Market Socialists, Titoism believed in a strong welfare state for the citizens.
Lange–Lerner theorem
There would be a market for final goods, while the state uses a central planning board to allocate the means of production. The government will set prices for capital goods by trial and error until they reach the equilibrium between supply and demand. The workers would still democratically manage the state-owned enterprises, and there would be social dividends thanks to the socially owned capital and natural resources. Despite being called "market socialism" by its founders, Lange Model was more of a market-simulated planning or a semi-planned economy.
Municipal Socialism
Municipal Socialism is a variant of Market Socialism that advocates the use of local government to further social and public ownership of utilities. It predominately hails from the UK, specifically in the city of Preston.
Stock Socialism
A variant of socialism in which social ownership of the means of production and workplace democracy is achieved via worker ownership of stocks. One proponent of a similar system was Pranab Bardhan who conceptualised a form of socialism in which workers had equal share of stocks. There is another variant of this with the transition to a socialist economy and that stage.
Personality
MarkSoc is quite disdainful of other, more radical socialists, as well as capitalists. They look down on other
leftist ideologies for preventing the beneficial aspects of markets from proliferating in a
socialist system, as well as looking down on
rightist ones for the perceived corruption and suffering in their systems.
MarkSoc thinks they are the ultimate ideology and insists on everyone reading 1000 pages of economic theory to prove their point. They sometimes get caught up in their own self-importance, but they truly care about trying to help the workers of the world.
How to Draw
- Draw a ball.
- Fill the ball white.
- Draw at the top a red hammer.
- Below that, draw two red arrows crossing each other.
- Below that, draw a red star.
- Add the eyes, and you're done!
Color Name | HEX | RGB | |
---|---|---|---|
Red | #EC1D26 | rgb(236, 29, 38) | |
White | #FFFFFF | rgb(255, 255, 255) |
Relationships
Friends
Democratic Socialism - They're fellow socialists and supporters of cooperatives.
Mutualism - My more wacky influence.
Libertarian Market Socialism - My freedom-loving descendent.
Distributism - Pretty much on the same page, but they're a little more religious than I am.
Titoism - My most successful form, but quit it with the excessive meddling in the cooperatives.
Alter-Globalism - The global south shall not be exploited!
Democracy - Worker cooperatives are great at providing you!
Guild Socialism - Me but Medieval-inspired and organized along professional lines.
Ricardian Socialism - You are somewhat strange (what do you mean by distortions?), but I agree that the economy should be dominated by associations of workers.
Socialism of the 21st Century - Evo was based.
Gift Economy - Without capitalism, such exchanges would likely become easier, as there would be nothing forcing people to want certain products over others.
Abolitionism - Mill supported abolition, also I wish John Brown’s plan to free the slaves had actually worked.
Kosyginism - If only you fully implemented the reforms.....
National Communism - You often rely on me to maintain your “communism”.
Technocracy - Gierek implemented you, and your early influence from socialist thinkers makes you a perfect match for me.
Frenemies
Classical Liberalism - I also enjoy Smith's works, but markets don't need to be capitalist, hope you can realize that.
Liberal Socialism - Far too much pragmatism for it not to be a liability.
Syndicalism - Workforce unionization and decentralized worker organizations? Based!
Couldn’t you leave the market alone though?Marxism–Leninism - I fit the official definition of "Socialism" so don't call me a fake socialist! However, Raul Castro, Tito, Kádár, and Kosygin are based, and so artels and cooperatives of Stalin era, which were banned by Khrushchev.
Social Liberalism - We share a lot of the same ideals, and we both like John Stuart Mill, but doesn't provide practical solutions.
Capitalist Communism - We both want free markets in a socialist state, but you come off as rather contradictory and not making much sense.
Dengism - I'm a bit split on you. You look just a confusing
corporatist system of
the manager, state capitalism and worker co-ops which are based. At least you have a market system. Xi's reforms further confirmed my thoughts.
Anarcho-Syndicalism - I love your brother, but why do you want to get rid of the government?
Socialist Corporatism - Better than regular
corporatism, but still too hierarchic.
Yellow Socialism - Same thing with the above guy but with more
reactionary sentiments.
Leninism - You understand that cooperatives are a good way to transition into socialism, which is based, I also like the
New Economic Policy, but your rejection of reform is something I wouldn't like, in fact, reform is ideal in achieving socialism.
Juche - I like some of your economic ideas, but the totalitarianism is cringe.
State Socialism - We are both socialists, but you should lessen your authoritarian rhetoric. A planned economy is stagnant and your tendency to be overly centralized and overly bureaucratic in dealing with economics tends to hurt the working class more than it helps them. Although we sometimes overlap, mostly in Eastern Europe.
Social Democracy - You're far from horrible in modern times, but I kinda miss when you were a lot closer to me rather than a friendlier version of
him.
Social Authoritarianism - You're sometimes too moderate economically even getting close to
him; but
Revolutionary Government of the Armed Forces' Yugoslavia-like socialist self-management system was really based. Also,
Raul Castro and
Miguel Diaz-Canel are basically you.
Nordic Model - Again, not bad, though I wish you followed through with Rudolf Meidner's ideas.
Anarcho-Communism - My brother with the same problems as with
him. You seem to hate the markets, although
Makhno at least applied me in Ukraine.[2]
Gorbachevism - At least you tried to implement me in the USSR.
Enemies
Fascism &
Corporatism - A corporatist economy is not even close to what I advocate for, especially with the class collaboration that it requires.
Neoliberalism - This is what unfettered capitalism leads to.
American Model - What can I say? You promote capitalism as a dogma, you blockaded Cuba for daring to disagree with your economic policies, and you are a dictatorship wrapped in the language of democracy.
Libertarianism - "The freer the market, freer the people", I totally agree, but you misunderstood the quote.
The Manager - No...NO!!!
Pinochetism - Exclusivist organizations and oligarchy? In THIS land? I think not!
Khrushchevism - Banning cooperatives in 1956 was the reason why the Soviet economy stagnated! (At least you supported Kadar)
The Board of Directors - This is what
he wants over the workers!
Hoxhaism - Stop calling any socialist ideologies that stray even slightly from Marxism–Leninism revisionist!
State Capitalism - Why does everyone call us similar? We are polar opposites!
Austrian School - Thanks for the ECP, but your unregulated capitalism is horrific.
Capitalism - Your markets are cool, but your bosses are not. We also both like Adam Smith but for VERY different reasons.
Third Way - You're a kinder version of
them with some of
him too, but you still seem more exploitative.
Anarcho-Capitalism - The free market means no capitalism.
Corporatocracy - You put the statement "Capitalism is anti-market" truer than anyone else.
Objectivism - Free markets aren't about worshiping your boss or being greedy.
Avaritionism - GET AWAY FROM ME, YOU GODDAMN RED MARKET LOVER!!
Further Information
Literature
- Principles of Political economy by
John Stuart Mill
- Chapters on Socialism by
John Stuart Mill
- On the Economic Theory of Socialism by
Oskar Lange
- Market, State, and Community: Theoretical Foundations of Market Socialism by David Miller
- Why Market Socialism?: Voices from Dissent by Frank Roosevelt, David Belkin, and Robert L. Heilbroner
- The Theory of the Leisure Class by
Thorstein Veblen
- After Capitalism by
David Schweickart
- Democracy at Work: A Cure for Capitalism by
Richard D. Wolff
- Private Government: How Employers Rule Our Lives (and Why We Don't Talk about It) by Elizabeth Anderson
Online Communities
Wikipedia
Market Socialism
- Market Socialist Economy
Cooperative
Laissez-Faire Socialism
- Employee funds
- Economy of SFRY
- Socialist self-management
- Lange Model
- Labor theory of value
People
Yegor Ligachyov
Alexei Kosygin
Rudolf Meidner
Erich Honecker
Egon Krenz
Ramiz Alia
Louis Blanc
Janos Kádár
John Stuart Mill
Branko Horvat
Jaroslav Vaněk
Josip Broz Tito
Emiliano Zapata
Richard D. Wolff
John Brown
Thorstein Veblen
Videos
- AskProfWolff: What is the difference between market socialism and centralized socialism? by
Richard D. Wolff
- Can We Do It Ourselves? by Friatidningar
- Socialist Debate: Main Arguments by Adam G
- 8 Types of "Socialism" in 75 Minutes || Economic Systems Explained by LuckyBlackCat
- 8 Types of "Socialism" in 10 Minutes by LuckyBlackCat
Gallery
Portraits
-
Credit: Arksiane's drawing
Comics and Artwork
Notes
- ↑ The Co-Operative Party worked extensively with New Labour both in terms of market liberalization and pushing for cooperatives in various sectors with the help of Blair and Brown.
- ↑ The economic system of the Makhnovshchina