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The model is sometimes called the "Lange–Lerner" model. [4] Abba Lerner wrote a series of articles that greatly influenced Lange's thinking. For example, Lerner (1938) caused Lange to re-write his 1936 and 1937 articles on market socialism , before they were re-published as chapters in a 1938 book.
An alternative view of socialism prefiguring the neoclassical models of market socialism consisted of conceptions of market socialism based on classical economic theory and Ricardian socialism, where markets were utilized to allocate capital goods among worker-owned cooperatives in a free-market economy.
Lange's argument was one of the pivots of the socialist calculation debate with the Austrian School economists. At that time, the view among English socialists of the Fabian Society was that Lange had won the debate. [9] His works provided the earliest model of market socialism. [10]
Socialist production involves rational planning of use-values and coordination of investment decisions to attain economic goals. [10] In this approach, cyclical fluctuations that occur in a capitalist market economy do not exist in a socialist economy. The value of a good in socialism is its physical utility rather than its embodied labour ...
Lerner developed a model of market socialism which featured decentralised market pricing proportional to marginal social cost [9] [10] [11] and in so doing contributed to the Lange–Lerner–Taylor theorem.
Computer scientist Paul Cockshott and economist Allin Cottrell referenced Project Cybersyn in their 1993 book Towards a New Socialism, citing it as an inspiration for their own proposed model of computer-managed socialist planned economy. [18] The Guardian in 2003 called the project "a sort of socialist internet, decades ahead of its time". [3]
Scientific socialism in Marxism is the application of historical materialism to the development of socialism, as not just a practical and achievable outcome of historical processes, but the only possible outcome.
[10] [11] Turchin has said that elite overproduction explains social disturbances during later years of various Chinese dynasties, the late Roman empire, the French Wars of Religion, and France before the Revolution. Turchin predicted in 2010 that this situation would cause social unrest in the United States during the 2020s. [12] [13]