Socialist alternatives to capitalism II: Vienna to Santa Fe

Socialist alternatives to capitalism II: Vienna to Santa Fe
Duncan Foley
New School for Social Research, Department of Economics, 2017
Level: advanced
Perspectives: Marxian Political Economy, Institutionalist Economics, Complexity Economics, Other
Topic: Buen Vivir, Capitalism, Commons, degrowth, network economics, social ecological transformation, social movements & transformation
Format: Working paper/Journal article
Link: http://www.economicpolicyresearch.org/econ/2017/NSSR_WP_062017.pdf

 Photo by Denny Bú on Unsplash

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Socialist alternatives to capitalism II: Vienna to Santa Fe

Duncan Foley | 2017

 


Abstract: Optimal control theory and information technology provide tools with the capacity to implement top-down centralized allocation of resources in complex economies organized through a social division of labor. Twentieth century political and systems thinking, however, emphasize the virtues of bottom-up spontaneously organized systems. Workers’ control can be analyzed as one variety of bottom-up spontaneous organization. Another is peer production, as in the case of open-source software. A model of peer production under the name Lifenet provides some insights into the advantages and limitations of this approach to socialism.

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