A planned economy is a type of economic system where the distribution of goods and services or the investment, production and the allocation of capital goods takes place according to economic plans that are either economy-wide or limited to a category of goods and services. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed.
Anti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system, such as socialism, anarchism, communism, syndicalism, or some combination of the latter four.
Wage slavery or slave wages refers to a person's dependence on wages for their livelihood, especially when wages are low, treatment and conditions are poor, and there are few chances of upward mobility.
In linguistics, transformational grammar (TG) or transformational-generative grammar (TGG) is part of the theory of generative grammar, especially of natural languages. It considers grammar to be a system of rules that generate exactly those combinations of words that form grammatical sentences in a given language and involves the use of defined operations to produce new sentences from existing ones. The method is commonly associated with American linguist Noam Chomsky.
Participatory economics, often abbreviated Parecon, is an economic system based on participatory decision making as the primary economic mechanism for allocation in society. In the system, the say in decision-making is proportional to the impact on a person or group of people. Participatory economics is a form of socialist decentralized planned economy involving the common ownership of the means of production. It is a proposed alternative to contemporary capitalism and centralized planning. This economic model is primarily associated with political theorist Michael Albert and economist Robin Hahnel, who describes participatory economics as an anarchist economic vision.
Michael Albert is an American economist, speaker, writer, and political critic. Since the late 1970s, he has published books, articles, and other contributions on a wide array of subjects. He has also set up his own media outfits, magazines, and podcasts. He is known for helping to develop the socioeconomic theory of participatory economics.
Z Communications is a left-wing activist-oriented media group founded in 1986 by Michael Albert and Lydia Sargent. It is, in broad terms, ideologically libertarian socialist, anti-capitalist, and heavily influenced by participatory economics, although much of its content is focused on critical commentary of foreign affairs. Its publications include Z Magazine, ZNet, and Z Video. Since early November 2022, they have all been regrouped under the name ZNetwork.
Edward Samuel Herman was an American economist, media scholar and social critic. Herman is known for his media criticism, in particular the propaganda model hypothesis he developed with Noam Chomsky, a frequent co-writer. He held an appointment as Professor Emeritus of finance at the Wharton School of Business of the University of Pennsylvania. He also taught at Annenberg School for Communication at the University of Pennsylvania.
South End Press was a non-profit book publisher run on a model of participatory economics. It was founded in 1977 by Michael Albert, Lydia Sargent, Juliet Schor, among others, in Boston's South End. It published books written by political activists, notably Arundhati Roy, Noam Chomsky, bell hooks, Winona LaDuke, Manning Marable, Ward Churchill, Cherríe Moraga, Andrea Smith, Howard Zinn, Jeremy Brecher and Scott Tucker. South End Press closed in 2014.
Robin Eric Hahnel is an American economist and professor emeritus of economics at American University. He was a professor at American University for many years and traveled extensively advising on economic matters all over the world. He is best known for his work on participatory economics with Z Magazine editor Michael Albert.
Anarchist economics is the set of theories and practices of economic activity within the political philosophy of anarchism. Many anarchists are anti-authoritarian anti-capitalists, with anarchism usually referred to as a form of libertarian socialism, i.e. a stateless system of socialism. Anarchists support personal property and oppose capital concentration, interest, monopoly, private ownership of productive property such as the means of production, profit, rent, usury and wage slavery which are viewed as inherent to capitalism.
Post-capitalism is, in part, a hypothetical state in which the economic systems of the world can no longer be described as forms of capitalism. Various individuals and political ideologies have speculated on what would define such a world. According to classical Marxist and social evolutionary theories, post-capitalist societies may come about as a result of spontaneous evolution as capitalism becomes obsolete. Others propose models to intentionally replace capitalism, most notably socialism, communism, anarchism, nationalism and degrowth.
Pat Devine is a radical socialist economist concerned mainly with industrial economics and comparative economic systems.
Noam Chomsky is an intellectual, political activist, and critic of the foreign policy of the United States and other governments. Noam Chomsky describes himself as an anarcho-syndicalist and libertarian socialist, and is considered to be a key intellectual figure within the left wing of politics of the United States.
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism. As an allocation mechanism for socialism, economic planning replaces factor markets with a procedure for direct allocations of resources within an interconnected group of socially owned organizations which together comprise the productive apparatus of the economy.
Chavismo, also known in English as Chavism or Chavezism, is a left-wing populist political ideology based on the ideas, programs and government style associated with the Venezuelan President between 1999 and 2013 Hugo Chávez that combines elements of democratic socialism, socialist patriotism, Bolivarianism, and Latin American integration. Supporters of Hugo Chávez and Chavismo are known as Chavistas.
The modern welfare state has been criticized on economic and moral grounds from all ends of the political spectrum. Many have argued that the provision of tax-funded services or transfer payments reduces the incentive for workers to seek employment, thereby reducing the need to work, reducing the rewards of work and exacerbating poverty. On the other hand, socialists typically criticize the welfare state as championed by social democrats as an attempt to legitimize and strengthen the capitalist economic system which conflicts with the socialist goal of replacing capitalism with a socialist economic system.
A facilitation board is a proposed economic institution conceived by economists Michael Albert and Robin Hahnel which act in systems of economic democracy as agencies that facilitate information exchange and processing for collective consumption proposals and for large-scale investment projects, workers requests for changing places of employment, and individuals and families seeking to find membership in living units and neighborhoods, among other functions.
Socialist economics comprises the economic theories, practices and norms of hypothetical and existing socialist economic systems. A socialist economic system is characterized by social ownership and operation of the means of production that may take the form of autonomous cooperatives or direct public ownership wherein production is carried out directly for use rather than for profit. Socialist systems that utilize markets for allocating capital goods and factors of production among economic units are designated market socialism. When planning is utilized, the economic system is designated as a socialist planned economy. Non-market forms of socialism usually include a system of accounting based on calculation-in-kind to value resources and goods.
The socialist calculation debate, sometimes known as the economic calculation debate, was a discourse on the subject of how a socialist economy would perform economic calculation given the absence of the law of value, money, financial prices for capital goods and private ownership of the means of production. More specifically, the debate was centered on the application of economic planning for the allocation of the means of production as a substitute for capital markets and whether or not such an arrangement would be superior to capitalism in terms of efficiency and productivity.
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