The Philosophy and Economics of Market Socialism: A Critical Study by N. Scott Arnold

The Philosophy and Economics of Market Socialism: A Critical Study

byN. Scott Arnold

Hardcover | August 18, 1994

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N. Scott Arnold argues that the most defensible version of a market socialist economic system would be unable to realize widely held socialist ideals and values. In particular, it would be responsible for widespread and systematic exploitation. The charge of exploitation, which is really acharge of injustice, has typically been made against capitalist systems by socialists. This book argues that it is market socialism--the only remaining viable form of socialism--that is systematically exploitative.

About The Author

N. Scott Arnold is at University of Alabama at Birmingham.
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Title:The Philosophy and Economics of Market Socialism: A Critical StudyFormat:HardcoverDimensions:320 pages, 9.57 × 6.38 × 1.02 inPublished:August 18, 1994Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0195088271

ISBN - 13:9780195088274

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In this closely reasoned examination of the case for market socialism, N. Scott Arnold argues that even the most defensible version of market socialism would be deeply flawed. Specifically, it would be responsible for systematic and widespread exploitation. The charge of exploitation, which is really a charge of injustice, has typically been made against capitalist systems by socialists. This book argues that it is actually market socialism - the only remaining viable form of socialism - that is systematically exploitative. Recent work on the economics of contracts and organizations is used to show that the characteristic organizations of a free enterprise system - the classical capitalist firm and the modern corporation - are structured in such a way that opportunities for exploitation among economic actors (e.g., managers, workers, providers of capital, customers) are minimized. By contrast, Arnold argues, in a market socialist regime of worker cooperatives, opportunities for exploitation abound. Arnold locates his comparative analysis of market socialism and th

Editorial Reviews

"N. Scott Arnold's outstanding book makes a vital contribution to the debate over socialism....Arnold's discussion is a first-rate achievement. He has provided the best and most carefully worked out account of market socialism that I have read. His book is a model of how philosophers can useeconomic theory in their work-and in this department there can be no doubt of Arnold's efficiency. As if that were not enough, the book contains a superb assortment of sarcastic remarks about lawyers."--The Mises Review