From Marx to the Market: Socialism in Search of an Economic System (Clarendon Paperbacks)

This work by two economists who were involved as experts in the reform of the Polish economy in the 1950s and 1960s present the results of their efforts to develop in theory an economic system which could avoid the worst excesses of both capitalism and central planning. This is an important work of original scholarship by two of the most distinguished East European economists now working in the West. The authors, both of whom were involved in the Planning Office of the Polish economy in the 1950s and 1960s, present here the results of their efforts to develop theoretically a system of economic management which could in practice avoid the worst excesses of both market capitalism and central planning. The conclusions derived from this analysis are shown to open up a new dimension to the `socialism versus capitalism' controversy which has dominated much of the world throughout the twentieth century and which is especially significant as the countries of East and Central Europe re-structure their economies. (Source: [Oxford University Press](https://global.oup.com/academic/product/from-marx-to-the-market-9780198283997)) BL With a new preface by the authors This is an important work of original scholarship by two of the most distinguished East European economists now working in the West. The authors, both of whom were involved in the Planning Office of the Polish economy in the 1950s and 1960s, present here the results of their efforts to develop theoretically a system of economic management which could in practice avoid the worst excesses of both market capitalism and central planning. The conclusions derived from this analysis are shown to open up a new dimension to the `socialism versus capitalism'controversy which has dominated much of the world throughout the twentieth century and which is especially significant as the countries of East and Central Europe re-structure their economies.

distinguished Economists Brus And Laski—who Were Involved With The Planning Office Of The Polish Economy In The 1950s And 1960s—here Develop A Theoretical System Of Economic Management Which Avoids The Failings Of Both Market Capitalism And Central Planning. This Book Examines Marxists Claim To Socialism's Economic Rationality And Studies The Application Of The Concept In The Real Socialism Of Communist Party Orthodoxy As Well As In The Tentative Attempts At Market Socialism, Particularly In Hungary And Yugoslavia. The Analysis Focuses On General Features Of The Evolution Of The Socialist Economic System, But National Experiences Are Used To Point Out The Advances That Have Been Made And The Flaws In The Theoretical Models That Have Been Developed.

Preface Part I: Marxist socialism - the promise: The claim to economic rationality Part II: Real socialism - the disappointments: The historical regularity in reverse The objective of catching-up The command system Part III: Market socialism - the problems so far: The theoretical response to challenge The Hungarian practice Central planning with regulated market - the flawed model The Yugoslav lessons Part IV: Market socialism - the problems ahead: Thecapital market and the problem of full employment The question of ownership Concluding remarks Notes Index This book is highly relevant to current debates on market socialism and to the continuing problems of Eastern European countries as they reform their economies. It is a work of original scholarship by two economists who were involved as experts in the reform of the Polish economy in the 1950s and 1960s. Here they present the results of their efforts to develop in theory an economic system which could avoid the worst excesses of both capitalism and centralplanning