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    Greenwood, Dan 2007. The halfway house: Democracy, complexity, and the limits to markets in green political economy. Environmental Politics, Vol. 16, Issue. 1, p. 73.

    Arnold, N. Scott 1996.

    FOLKE, STEEN and SAYER, ANDREW 1991. WHAT'S LEFT TO DO?: TWO VIEWS FROM EUROPE. Antipode, Vol. 23, Issue. 2, p. 240.

    Putterman, Louis 1988. Marx and Disequilibrium. Economics and Philosophy, Vol. 4, Issue. 02, p. 333.

    Schweickart, David 1987. Market Socialist Capitalist Roaders: A Comment on Arnold. Economics and Philosophy, Vol. 3, Issue. 02, p. 308.


Marx And Disequilibrium in Market Socialist Relations of Production

  • N. Scott Arnold (a1)
  • DOI:
  • Published online: 01 December 2008

One feature of socialism that has been little discussed in the recent revival of interest in Marx is the basic form of economic organization that will characterize such a society. Marx's view, to be documented in what follows, is that socialism would not have a market economy. This prediction should be a matter of some embarrassment or consternation to twentieth-century socialists outside of the Soviet bloc who claim a Marxist heritage. Despite the fact (or perhaps because of the fact) that some socialist regimes in the first half of this century did carry out a program of (largely) abolishing the market, the abolition of markets is no longer on the agenda for developed and developing countries. On the Left, anyway, some form of market socialism seems to be the preferred alternative; Yugoslavia is often pointed to as an imperfect real world exemplar of what market socialism might be like.

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John E. Elliot 1976. “Marx and Contemporary Models of Socialist Economy.” History of Political Economy 8: 151–84.

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Economics & Philosophy
  • ISSN: 0266-2671
  • EISSN: 1474-0028
  • URL: /core/journals/economics-and-philosophy
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