Abstract
This study has developed a general equilibrium model for the purpose of comparing the economic performance of the contemporary capitalist system with that of a potential pragmatic market socialist alternative. Designed with a highly efficient, modern industrial economy such as that of the United States in mind, the pragmatic market socialist economy is intended to work “almost exactly” like the contemporary capitalist economy, except for two key differences: the Bureau of Public Ownership (BPO), and social dividend distribution of capital property return. Wheras under capitalism, corporation executives are responsible to boards of directors representing private owners, under pragmatic market socialism, corporation executives (of large, established, publicly owned corporations) would be responsible to BPO agents representing the entire working population of “citizen owners.” Wheras under capitalism, capital property return is distributed to private capital owners on the basis of their financial capital wealth, under pragmatic market socialism, capital property return (produced by large, established, publicly owned corporations) would be distributed to the working population on the basis of their labor income.
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© 1993 Springer Science+Business Media New York
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Yunker, J.A. (1993). Summary and Conclusion. In: Capitalism versus Pragmatic Market Socialism. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2190-3_5
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DOI: https://doi.org/10.1007/978-94-011-2190-3_5
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-4970-2
Online ISBN: 978-94-011-2190-3
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