The Firm in Illyria: Market Syndicalism

  • Benjamin Ward


The discussion of the feasibility of socialism has long been closed with apparently quite general agreement that an economy will not inevitably collapse as a result of nationalization of the means of production. On the theoretical side the clinching argument was probably made by Barone shortly after the controversy began [2]. Probably the best-known of the arguments on the other side of the question, that of Mises [15], was published twelve years after Barone’s paper and gave rise to a new set of arguments, among them those of Taylor, Lange and Lerner [11] [12]. Lange in fact explicitly (though perhaps with a touch of irony) developed market socialism as a counterexample for Mises’ assertions.


Marginal Product Excess Demand Supply Curve Employment Level Management Board 
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© Benjamin Ward and The American Economic Review 1977

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  • Benjamin Ward

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