Advertisement

The Review of Austrian Economics

, Volume 22, Issue 3, pp 289–292 | Cite as

Post-Hayekian socialism a la Burczak: Observations

  • J. Barkley RosserJr.
  • Marina V. Rosser
Article
  • 87 Downloads

Abstract

Burczak (Socialism after Hayek, Ann Arbor: University of Michigan Press, 2006) presents a proposed form of stakeholder socialism to overcome the critique by Hayek of Marxist socialist systems. This involves financing the beginning of worker-owned and managed cooperatives through a wealth tax, with a generous social safety net, within a market economy in a democratic political system with civil liberties. While such a system may overcome worker alienation, avoid many of the informational and incentive-based inefficiencies identified by Hayek, and have some special efficiencies of its own, it will likely suffer from the financing problems most cooperatives face within predominantly market capitalist economies as they try to grow larger. The most likely location for an effort at such a system might be in a smaller country that has had some experience with workers’ management, such as the former Yugoslav republic of Slovenia.

Keywords

Stakeholder socialism Cooperatives Libertarian Marxism 

JEL codes

B14 P0 

References

  1. Bonin, J., Jones, D. C., & Putterman, L. (1993). Theoretical and empirical studies of producer cooperatives: Will ever the Twain meet? Journal of Economic Literature, 31, 1290–1320.Google Scholar
  2. Burczak, T. A. (2006). Socialism after Hayek. Ann Arbor: University of Michigan Press.Google Scholar
  3. Craig, B., & Pencavel, J. (1992). The behavior of worker cooperatives: The plywood companies of the Pacific Northwest. American Economic Review, 82, 1083–1105.Google Scholar
  4. Djilas, M. (1969). The unperfect society: Beyond the new class. New York: Harcourt Brace & World.Google Scholar
  5. Engels, F. (1878). Herrn Eugen Dühring’s Umwalzüng der Wissenschaft [Anti-Duhring]. Leipzig: Dust die Verlag.Google Scholar
  6. Furobotn, E. G., & Pejovich, S. (1990). The economics of property rights (2nd ed.). Cambridge, MA: Ballinger.Google Scholar
  7. Hayek, F. A. (1960). The constitution of liberty. Chicago: University of Chicago Press.Google Scholar
  8. Jossa, B. (2005). Marx, Marxism and the cooperative movement. Cambridge Journal of Economics, 29, 3–18.CrossRefGoogle Scholar
  9. Kraft, E., & Vodopivec, M. (1992). How soft is the budget constraint for Yugoslav firms? Journal of Comparative Economics, 16, 432–455.CrossRefGoogle Scholar
  10. Marx, K. (1847). The poverty of philosophy. Paris: Progress Publishers.Google Scholar
  11. Marx, K. (1875). Critique of the Gotha program. [published 1891, Die Neue Zeit, Stuttgart].Google Scholar
  12. Marx, K., & Engels, F. (1848). Manifest der Kommunistichen Partei [The Communist Manifesto]. London.Google Scholar
  13. Milenkovitch, D. D. (1971). Plan and market in Yugoslav economic thought. New Haven: Yale University Press.Google Scholar
  14. Rosser Jr., J. B., & Rosser, M. V. (2004). Comparative economics in a transforming World economy (2nd ed.). Cambridge, MA: MIT Press.Google Scholar
  15. Sciabarra, C. M. (1995). Marx, Hayek, and utopia. Albany: State University of New York Press.Google Scholar
  16. Vanek, J. (1970). The general theory of labor-managed economies. Ithaca: Cornell University Press.Google Scholar
  17. Ward, B. (1958). The firm in Illyria. American Economic Review, 48, 566–589.Google Scholar
  18. Weinrich, G. (1993). Instability of general equilibrium in a labor-managed economy. Journal of Comparative Economics, 17, 43–69.CrossRefGoogle Scholar
  19. World Bank (1999). Slovenia: Economic transformation and EU accession, vol. II, main report. Washington: World Bank.Google Scholar

Copyright information

© Springer Science+Business Media, LLC 2008

Authors and Affiliations

  1. 1.James Madison UniversityHarrisonburgUSA

Personalised recommendations