Socialism: Institutional, Philosophical and Economic Issues

  • Svetozar┬áPejovich

Part of the International Studies in Economics and Econometrics book series (ISEE, volume 14)

Table of contents

  1. Front Matter
    Pages I-X
  2. Rights, Institutions, and Public Policy

    1. Front Matter
      Pages 1-1
    2. James M. Buchanan
      Pages 3-9
    3. Pedro Schwartz
      Pages 11-32
    4. Karl Brunner
      Pages 33-52
  3. Socialism: Philosophical Issues

  4. Socialism: Economic Issues

  5. Back Matter
    Pages 315-322

About this book


It was Lenin's genius to recognize the importance of [socialist] system with all the trappings of embellishing the democracy. If the people want a constitution. give them one. and even include the bill of rights. If they want a parliament, give them that too. And a system of courts. If they want a federal system create that myth as well. Above all, let them have e 1 ecti ons, for the act of voti ng is what the common man most clearly associates with democracy. Give them all these, but make sure that they have no effect on how things are run. - G. Warren Nutter Most research by Western scholars has emphasized macroeconomics (and to a considerable extent still does) as the method of analysis and growth rates as a standard for evaluating the performance of different economies. In the early 1960s Nutter raised questions about the reported growth rates in socialist states, the importance of growth policies for human welfare, and the abil ity of macroeconomi cs to enhance our understandi ng of soci a 1 and economic processes. In his work, Nutter used the standard price theory adjusted to incorporate the incentive effects of property rights in resources. He was casti gated for defyi ng the traditi ona 1 wi sdom. Not surprisingly, history has validated Nutter's theoretical framework and his conclusions.


Germany centrally planned economy economic policy information institutions management planning public policy socialism

Editors and affiliations

  • Svetozar┬áPejovich
    • 1
  1. 1.The Centre for Free EnterpriseTexas A & M UniversityUSA

Bibliographic information

  • DOI
  • Copyright Information Springer Science+Business Media B.V. 1987
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-94-010-8097-2
  • Online ISBN 978-94-009-3571-6
  • Series Print ISSN 0924-5170
  • Buy this book on publisher's site
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