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The socialist calculation debate, sometimes known as the economic calculation debate, was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for capital goods and private ownership of the means of production.
Other socialist theories, such as mutualism and market socialism, attempt to apply the labor theory of value to socialism, so that the price of a good or service is adjusted to equal the amount of labor time expended in its production. The labor-time expended by each worker would correspond to labor credits, which would be used as a currency to ...
Marx's argument is that price-levels for products are determined by input cost-prices, turnovers and average profit rates on output, which are in turn determined principally by aggregate labour-costs, the rate of surplus value and the growth rate of final demand. [15]
By the 1830s and 1840s, the egalitarian concepts of communism and the related ideas of socialism had become widely popular in French revolutionary circles thanks to the writings of social critics and philosophers such as Pierre Leroux and Théodore Dézamy, whose critiques of bourgeoisie liberalism led to a widespread intellectual rejection of ...
The socialist mode of production, also known as socialism or communism, [a] is a specific historical phase of economic development and its corresponding set of social relations that emerge from capitalism in the schema of historical materialism within Marxist theory.
[5] [42] Decentralized planning has been proposed as a basis for socialism and has been variously advocated by anarchists, council communists, libertarian Marxists and other democratic and libertarian socialists who advocate a non-market form of socialism, in total rejection of the type of planning adopted in the economy of the Soviet Union. [43]
"Socialism can be put into practice only by methods which most socialists disapprove." The "readiness to do bad things becomes a path to promotion and power." Under collectivism, "a man must be ...
He believed that socialism would end the capitalist monopoly over the means of production and thereby allow both free competition and cooperation to flourish. [ 3 ] In contrast, the German communist Karl Marx defined socialism as the abolition of all private property , rather than a redistribution of it as proposed by Proudhon.