Capitalism, Socialism and Property Rights
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A01=Dr Mateusz Machaj
A01=Mateusz Machaj
Age Group_Uncategorized
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Austrian economics
Author_Dr Mateusz Machaj
Author_Mateusz Machaj
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Category1=Non-Fiction
Category=KCA
competition
COP=United Kingdom
Delivery_Delivery within 10-20 working days
division of labour
efficiency
entrepreneurship
eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
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Format=BB
Format_Hardback
Hayek
Language_English
monopoly
ownership
PA=Available
price
Price_€50 to €100
PS=Active
socialist calculation debate
softlaunch
the market
Von Mises
Product details
- ISBN 9781788210355
- Format: Hardback
- Dimensions: 156 x 234mm
- Publication Date: 29 Mar 2018
- Publisher: Edinburgh University Press
- Publication City/Country: GB
- Product Form: Hardback
- Language: English
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The comparative analysis of socialist and capitalist economic systems has given rise to a voluminous literature, yet detailed analysis of the market socialism model, which seeks to imitate the functional efficiency of capitalism by simulating a competitive economy, has been relatively neglected. In this work, Mateusz Machaj seeks to redress this imbalance by providing an in-depth examination of a defining issue that separates capitalism from socialism – the system of ownership, or property rights – which, when explored, highlights fundamental problems in the market socialism model.
Taking a broadly Austrian perspective, he shows that the mechanism of efficiency in market socialism is unable to play the part ascribed to it by its theoreticians, because it disregards that property rights are fundamental to the shaping of prices and thus the abolition of ownership in market socialism makes its mechanism of efficiency a fiction. The book offers new and original insights into the theory of competition, theories of pricing, property laws, the relation between law and economics, as well as the economics of the market socialism model.
Mateusz Machaj is Assistant Professor of Economics at the University of Wroclaw, Poland.
