POST-PLANNING SOCIALISM AND MARKETS - THE ECONOMIC-CONFLICTS

Communism in the East has collapsed. Is socialism fated then to be stillborn and without a future? With the failure of the planned economy, socialist economists have widely argued in favour of employing markets to decentralize and democratize the public ownership economy. However, projects that include market controls imply restriction of technological change. In the final analysis it would be better to forget grand, all-encompassing socialist schemes and work on building up socialism piece by piece.