Market socialism
Contemporary socialist proposals
Markets coordinate much of the economy while productive assets are subject to social ownership or control.
Historical context
Market-socialist projects took various forms in the twentieth-century debate over calculation and planning. Some keep markets for goods or inputs and allocate capital to public funds or worker-managed firms.
Overview
Two economies may use similar price signals while distributing rights over assets differently. Market socialism combines coordination through exchange with arrangements for social ownership or control.
Main claims
Social ownership of capital is compatible with a wide role for product markets.
Private productive ownership
The means of production are subject to forms of social ownership or control.
Interpretation for comparison · Socialism · Stanford Encyclopedia of Philosophy
Market coordination
The model retains markets to coordinate production decisions.
Interpretation for comparison · Socialism · Stanford Encyclopedia of Philosophy
Central planning
The model retains market coordination in place of comprehensive central planning.
Interpretation for comparison · Socialism · Stanford Encyclopedia of Philosophy
Debates and nuances
Proposals differ over who owns capital and who decides how it is invested.
The assessment compares only the positions documented in this entry.