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From Marx to the MarketSocialism in Search of an Economic System$
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Wlodzimierz Brus and Kazimierz Laski

Print publication date: 1991

Print ISBN-13: 9780198283997

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198283997.001.0001

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The Claim to Economic Rationality

The Claim to Economic Rationality

Chapter:
(p.3) 1 The Claim to Economic Rationality
Source:
From Marx to the Market
Author(s):

Włodzimierz Brus

Kazimierz Laski (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198283997.003.0001

The chapter concentrates on presenting the Marxist claim that socialism surpasses its predecessor—capitalism—in terms of economic rationality. The basis for this rationality is to be provided by social ownership of means of production. This is supposed to allow ‘internalisation of externalities’ by means of central planning—ex ante coordination of economic activity on a macro scale, as well as gearing production to satisfaction of needs, which in turn promotes cooperative behaviour of economic agents instead of competition for profits.

Keywords:   central planning, competition, cooperation, economic rationality, Karl Marx, ownership, Joseph Schumpeter, social justice, socialism, X‐efficiency

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