Economics and Utopia: Why the Learning Economy is Not the by Geoffrey M. Hodgson

By Geoffrey M. Hodgson

Because the fall of the Berlin Wall we've got been advised that no substitute to Western capitalism is feasible or fascinating. This booklet demanding situations this view with arguments. First, the above premise ignores the big sort inside of capitalism itself. moment, there are huge, immense forces of transformation inside of modern capitalisms, linked to strikes in the direction of a extra knowledge-intensive economic system. those forces problem the conventional bases of agreement and employment, and will result in a rather various socio-economic method. with out providing a static blueprint, this publication explores this attainable state of affairs.

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Additional resources for Economics and Utopia: Why the Learning Economy is Not the End of History (Economics as Social Theory)

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195). Throughout the socialist movement, almost all discussions of a future socialist system were extremely vague about the permissible economic forms of such variety, and about the mode of overall co-ordination of multiple, decentralised, decision-making bodies. Karl Kautsky (1902, p. 166) was exceptional in that he went further, and insisted that under socialism, ‘the greatest diversity and possibility of change will rule. ’ In the same work he even wrote that under socialism ‘money will be found indispensable until something better is discovered’ (p.

But, until very recently, most of these have thought that a democratic and decentralised socialism was possible without the use of markets, and without equivalently decentralised property rights. It was not until the 1950s that the notion of using markets alongside planning, in a more decentralised economy with mixed forms of ownership, began to emerge in Eastern Europe, and later in Russia and China. The lateness of such developments must be emphasised. From the 1830s to the 1950s, the word ‘socialism’ has been linked to the idea of overall common ownership, emanating from writers such as Owen or Marx.

Socialism’ and ‘individualism’ were then widely adopted as antonyms of each other. In particular, in the 1820s, the influential followers of Saint-Simon – the French radical utopian – systematically adopted the term ‘individualisme’ as a description of the competitive and fractured society that they opposed, and eventually used the term ‘socialism’ to describe the egalitarian and harmonious 17 VISIONS AND ILLUSIONS system that they favoured. Not only did Leroux claim to be the originator of the term ‘socialism’ but also he used it explicitly ‘as an antithesis to “individualism” ’.

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