Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation

Capitalism versus Pragmatic Market Socialism: A General Equilibrium Evaluation contains important contributions both to general economic theory and to the evaluation of potential market socialist economic systems. As a contribution to economic theory, the general equilibrium model utilized in the research introduces the concept of ‘capital management effort' as a third primary factor of production (in addition to labor and saving) provided by private households. Capital management effort re...