Democracy and economic planning: The political economy of a self-governing society (Aspects of political economy) - Hardcover

Devine, P. J

Hardcover

ISBN 10: 074560515X ISBN 13: 9780745605159

Publisher: Polity Press, 1988

Synopsis

This book is a wide-ranging analysis of the nature of economic planning in both capitalist and state socialist societies. It seeks to establish an alternative to market forces as a means of co-ordinating decentralized economic decisions. The author begins with an analysis of the theory and practice of capitalist planning, central planning and market socialism. He argues that, while market socialism is currently favoured by many economists who reject both capitalism and the command planning of Eastern Europe, it cannot fulfil the promises held out for it. In the remainder of the book the author elaborates an alternative model based on the novel idea of negotiated co-ordination. The model combines system-wide with decentralized decision-making, recognizes the existence of differences of interest and incorporates a transformatory dynamic in which individuals modify their attitudes in the light of the positions of others. The model offers a detailed account of how economic activity could be organized in a self-governing society. This work should be of interest to students of economics, politics and sociology, as well as to a more general audience concerned with the nature of, and prospects for, socialism and democracy.

About this title

About the Author

Pat Devine is Honorary Research Fellow at the University of Manchester. He is the co-author of An Introduction to Industrial Economics and What On Earth Is To Be Done?

Review

"A historically important step toward a genuine socialism that maintains the essential element of planned coordination of critical economic activities. The maturing discussion about alternatives to capitalism will benefit greatly from continued debate, update and revision of its ideas."
Science and Society

"In this fascinating book, which deserves to be widely read, Pat Devine raises numerous important and interesting questions about the management of the economy."
Times Higher Educational Supplement

"A democratically planned socialist economy - perhaps along the lines of Pat Devine's model of negotiated coordination - offers the best hope of realizing the values of the
anti-capitalist movement."
Alex Callinicos, King's College, London

Edition details

• Publisher: Polity Press
• Publication date: 1988
• Language: English
• ISBN 10: 074560515X
• ISBN 13: 9780745605159
• Binding: Hardcover
• Number of pages: 306