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Socialist economics and the socialist calculation debate concern the organization and functioning of a post-capitalist system. This subject encompasses alternatives for the major elements of a capitalist system, such as the wage and profit systems, market-based allocation, private ownership of the means of production, and the use of money as a measure of value; and critical analysis of post-capitalist economic models.[1]

Arguments for post-capitalism[edit]

In the Marxist method of analysis and theory of historical materialism, specific modes of production come into being as a result of underlying changes in the level of technology. In this view, advances in technology enable new forms of economic and social organization, while outdated methods of social organization become impediments and eventually deadweight to further material progress in the form of internal contradictions.[2] This underlying theory of socioeconomic evolution lies at the heart of many arguments for socialism or communism, though the exact details on how the transformation from capitalism to socialism will play out is the source of much controversy.

Post-capitalist systems[edit]

There are a number of proposals for a new economic system to replace capitalism. According to some Classical Marxist and some social evolutionary theories, post-capitalist society may come about as a result of spontaneous evolution as capitalism becomes obsolete. Others propose models to intentionally replace capitalism (see: Technological utopianism and Reformism). The most notable among them are:


  • Socialism, an economic system based on public or cooperative ownership of the means of production where production is carried out to directly produce use-value, a moneyless form of accounting such as physical resource accounting or labor-time, and based on the direct production of utility rather than on the capitalist laws of accumulation and value. Some models of socialism imply economic planning for the allocation of the factors of production in place of capital markets, while other models of socialism retain market-based allocation of capital goods.
  • Market socialism, a type of socialism based on public ownership or cooperative ownership of the means of production, but retains monetary calculation and utilizes markets as the primary way of allocating the factors of production.




See also[edit]


  1. ^ Steele, David Ramsay (1999). From Marx to Mises: Post-Capitalist Society and the Challenge of Economic Calculation. Open Court. ISBN 978-0875484495. 
  2. ^ Born Ready Games. "Marxist anthropology". Web Reference. Retrieved 16 January 2014. 
  3. ^ Schweickart, David (2002). After Capitalism. Rowman & Littlefield Publishers, Inc. pp. 22–23. ISBN 0-7425-1299-1. 
  4. ^ Bookchin, Murray (2004). Post-Scarcity Anarchism. AK Press. ISBN 978-1-904859-06-2. 

Further reading[edit]

  • Albert, Michael. Parecon: Life After Capitalism. London: Verso, 2003.
  • Ankerl, Guy C. Beyond Monopoly Capitalism and Monopoly Socialism: Dstributive Justice in a Competitive Society. Cambridge MA: Schenkman, 1978
  • Shutt, Harry (2010). Beyond the Profits System: Possibilities for the Post-Capitalist Era. Zed Books. ISBN 978-1848134171
  • Steele, Ramsay Steele (1999). From Marx to Mises: Post-Capitalist Society and the Challenge of Economic Calculation. Open Court. ISBN 978-0875484495

External links[edit]