I think, although I may be wrong, that democratic control can be as or
more effective than markets in providing information and a corrective to
the mistakes of planning. You seem to assume a centralized bureaucratic
planning a la the USSR. If adequate democratic controls are designed,
managers who systematically guess wrong can be more easily removed.
Providing proper incentives is a problem, but it is also a mistake to
assume that the market provides a suitable set of incentives. Where are
the incentives to provide adequate food, housing, medical care, or legal
assistance to everyone who needs it. A good part of the reason that I am
a socialist is that capitalism provides incentives that systematically
violate my sense of values. I think socialism can do better, although it
won't be easy.
Rod
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Rod Hay
[EMAIL PROTECTED]
The History of Economic Thought Archive
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Batoche Books
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