Market socialism

Libertarian socialist mural reading "Free market, anti-capitalist"

Market socialism is a type of economic system involving the public, cooperative, or social ownership of the means of production in the framework of a market economy, or one that contains a mix of worker-owned, nationalized, and privately owned enterprises.^[1]^[2] The central idea is that, as in capitalism, businesses compete for profits, however they will be "owned, or at least governed," by those who work in them.^[3] Market socialism differs from non-market socialism in that the market mechanism is utilized for the allocation of capital goods and the means of production.^[4]^[5]^[6] Depending on the specific model of market socialism, profits generated by socially owned firms (i.e., net revenue not reinvested into expanding the firm) may variously be used to directly remunerate employees, accrue to society at large as the source of public finance, or be distributed amongst the population in a social dividend.^[7]

Market socialism is not exclusive, but can be distinguished from the concept of the mixed economy because some models of market socialism are complete and self-regulating systems, unlike the mixed economy.^[8] Market socialism also contrasts with social democratic policies implemented within capitalist market economies.

While social democracy aims to achieve greater economic stability and equality through policy measures such as taxes, subsidies and social welfare programs,
market socialism aims to achieve similar goals through changing patterns of enterprise ownership and management.^[9]

Early models of market socialism trace their roots to the work of Adam Smith and the theories of classical economics, which consisted of proposals for co-operative enterprises operating in a free-market economy.

The aim of such proposals was to eliminate exploitation by allowing individuals to receive the full product of their labor, while removing the market-distorting effects of concentrating ownership and wealth in the hands of a small class of private property owners.^[10] Among early advocates of this type of market socialism were the Ricardian socialist economists and mutualist philosophers, but the term "market socialism" only emerged in the 1920s during the socialist calculation debate.^[11]

Although sometimes described as "market socialism",^[12] the Lange model is a form of market simulated planning where a central planning board allocates investment and capital goods by simulating factor market transactions, while markets allocate labor and consumer goods. The system was devised by socialist economists who believed that a socialist economy could neither function on the basis of calculation in natural units nor through solving a system of simultaneous equations for economic coordination.^[13]^[14]

Giacomo Corneo, Professor of Public Finance and Social Policy at the Free University of Berlin, espouses an "updated version of market socialism" where large firms would be publicly owned (though by no more than 51% share),^[15] which would allow the government to distribute a social dividend, while the rest of the firms would be privately owned and subject to regulations to protect employees, consumers and environment.^[16]

Theoretical history[edit]

Classical economics[edit]

The key theoretical basis for market socialism is the negation of the underlying expropriation of surplus value present in other modes of production. Socialist theories that favored the market date back to the Ricardian socialists and anarchist economists, who advocated a free market combined with public ownership or mutual ownership of the means of production.

Proponents of early market socialism include the Ricardian socialist economists, the classical liberal philosopher John Stuart Mill and the anarchist philosopher Pierre-Joseph Proudhon. These models of socialism entailed perfecting or improving the market mechanism and free price system by removing distortions caused by exploitation, private property and alienated labor.

This form of market socialism has been termed free-market socialism because it does not involve planners.^[17]^[18]

John Stuart Mill[edit]

Mill's early economic philosophy was one of free markets that he moved toward a more socialist bent, adding chapters to his Principles of Political Economy in defence of a socialist outlook, and defending some socialist causes.^[19] Within this revised work he also made the radical proposal that the whole wage system be abolished in favour of a co-operative wage system. Nonetheless, some of his views on the idea of flat taxation remained,^[20] albeit altered in the third edition of the Principles of Political Economy to reflect a concern for differentiating restrictions on unearned incomes which he favoured; and those on earned incomes, which he did not favour.^[21]

Mill's Principles, first published in 1848, was one of the most widely read of all books on economics in the period.^[22] As Adam Smith's Wealth of Nations had during an earlier period, Mill's Principles dominated economics teaching. In the case of Oxford University, it was the standard text until 1919, when it was replaced by Alfred Marshall's Principles of Economics.

In later editions of Principles of Political Economy, Mill would argue that "as far as economic theory was concerned, there is nothing in principle in economic theory that precludes an economic order based on socialist policies".^[20]^[23]

Mill also promoted substituting capitalist businesses with worker cooperatives, writing:

The form of association, however, which if mankind continue to improve, must be expected in the end to predominate, is not that which can exist between a capitalist as chief, and work-people without a voice in the management, but the association of the labourers themselves on terms of equality, collectively owning the capital with which they carry on their operations and working under managers elected and removable by themselves.^[24]

Mutualism[edit]

Pierre-Joseph Proudhon developed a theoretical system called mutualism which attacks the legitimacy of existing property rights, subsidies, corporations, banking and rent. Proudhon envisioned a decentralized market where people would enter the market with equal power, negating wage slavery.^[25] Proponents believe that cooperatives, credit unions and other forms of worker ownership would become viable without being subject to the state. Market socialism has also been used to describe some individualist anarchist works which argue that free markets help workers and weaken capitalists.^[26]^[27]

Individualist anarchism in the United States[edit]

For American anarchist historian Eunice Minette Schuster, "[i]t is apparent [...] that Proudhonian Anarchism was to be found in the United States at least as early as 1848 and that it was not conscious of its affinity to the Individualist Anarchism of Josiah Warren and Stephen Pearl Andrews. [...] William B. Greene presented this Proudhonian Mutualism in its purest and most systematic form".^[28] Josiah Warren is widely regarded as the first American anarchist,^[29] and the four-page weekly paper he edited during 1833, The Peaceful Revolutionist, was the first anarchist periodical published,^[30] an enterprise for which he built his own printing press, cast his own type, and made his own printing plates.^[30]

Warren was a follower of Robert Owen and joined Owen's community at New Harmony, Indiana. Josiah Warren termed the phrase "cost the limit of price", with "cost" here referring not to monetary price paid but the labor one exerted to produce an item.^[31] Therefore, "[h]e proposed a system to pay people with certificates indicating how many hours of work they did. They could exchange the notes at local time stores for goods that took the same amount of time to produce".^[29] He put his theories to the test by establishing an experimental "labor for labor store" called the Cincinnati Time Store where trade was facilitated by notes backed by a promise to perform labor. The store proved successful and operated for three years after which it was closed so that Warren could pursue establishing colonies based on mutualism. These included Utopia and Modern Times. Warren said that Stephen Pearl Andrews' The Science of Society, published in 1852, was the most lucid and complete exposition of Warren's own theories.^[32]

Later, Benjamin Tucker fused the economics of Warren and Proudhon and published these ideas in Liberty calling them "Anarchistic-Socialism".^[33] Tucker said: "[T]he fact that one class of men are dependent for their living upon the sale of their labour, while another class of men are relieved of the necessity of labour by being legally privileged to sell something that is not labour. [...] And to such a state of things I am as much opposed as any one. But the minute you remove privilege [...] every man will be a labourer exchanging with fellow-labourers. [...] What Anarchistic-Socialism aims to abolish is usury [...] it wants to deprive capital of its reward".^[33] American individualist anarchists such as Tucker saw themselves as economic market socialists and political individualists while arguing that their "anarchistic socialism" or "individual anarchism" was "consistent Manchesterism".^[34] Left-wing market anarchism is a modern branch of free-market anarchism that is based on a revival of such market socialist theories.^[35]^[36]^[37]^[38]

Neoclassical economics[edit]

Early 20th century[edit]

Beginning in the early 20th century, neoclassical economic theory provided the theoretical basis for more comprehensive models of market socialism. Early neoclassical models of socialism included a role for a central planning board (CPB) in setting prices equal marginal cost to achieve Pareto efficiency. Although these early models did not rely on conventional markets, they were labeled market socialist for their utilization of financial prices and calculation. Alternative outlines for market socialism involve models where socially owned enterprises or producer co-operatives operate within free markets under the criterion of profitability. In recent models proposed by American neoclassical economists, public ownership of the means of production is achieved through public ownership of equity and social control of investment.

The earliest models of neoclassical socialism were developed by Léon Walras, Enrico Barone (1908)^[39]^[40]^[41] and Oskar R. Lange (c. 1936).^[42] Lange and Fred M. Taylor (1929)^[43] proposed that central planning boards set prices through "trial and error", making adjustments as shortages and surpluses occurred rather than relying on a free price mechanism. If there were shortages, prices would be raised; if there were surpluses, prices would be lowered.^[44] Raising the prices would encourage businesses to increase production, driven by their desire to increase their profits, and in doing so eliminate the shortage. Lowering the prices would encourage businesses to curtail production to prevent losses, which would eliminate the surplus. Therefore, it would be a simulation of the market mechanism, which Lange thought would be capable of effectively managing supply and demand.^[45]

Although the Lange–Lerner model was often labelled as market socialism, it is better described as market simulation because factor markets did not exist for the allocation of capital goods. The objective of the Lange–Lerner model was explicitly to replace markets with a non-market system of resource allocation.^[46]^[47]

H. D. Dickinson published two articles proposing a form of market socialism, namely "Price Formation in a Socialist Community" (The Economic Journal 1933) and "The Problems of a Socialist Economy" (The Economic Journal 1934). Dickinson proposed a mathematical solution whereby the problems of a socialist economy could be solved by a central planning agency. The central agency would have the necessary statistics on the economy, as well as the capability of using statistics to direct production. The economy could be represented as a system of equations. Solution values for these equations could be used to price all goods at marginal cost and direct production. Hayek (1935) argued against the proposal to simulate markets with equations. Dickinson (1939) adopted the Lange-Taylor proposal to simulate markets through trial and error.

The Lange–Dickinson version of market socialism kept capital investment out of the market. Lange (1926 p65) insisted that a central planning board would have to set capital accumulation rates arbitrarily. Lange and Dickinson saw potential problems with bureaucratization in market socialism. According to Dickinson, "the attempt to check irresponsibility will tie up managers of socialist enterprises with so much red tape and bureaucratic regulation that they will lose all initiative and independence" (Dickinson 1938, p. 214). In The Economics of Control: Principles of Welfare Economics (1944), Abba Lerner admitted that capital investment would be politicized in market socialism.

Late 20th century and early 21st century[edit]

Economists active in the former Yugoslavia, including Czech-born Jaroslav Vaněk and Croat-born Branko Horvat, promoted a model of market socialism dubbed the Illyrian model, where firms were socially owned by their employees and structured around workers' self-management, competing with each other in open and free markets.

American economists in the latter half of the 20th century developed models based such as coupon socialism (by the economist John Roemer) and economic democracy (by the philosopher David Schweickart).

Pranab Bardhan and John Roemer proposed a form of market socialism where there was a stock market that distributed shares of the capital stock equally among citizens. In this stock market, there is no buying or selling of stocks that leads to negative externalities associated with a concentration of capital ownership. The Bardhan and Roemer model satisfied the main requirements of both socialism (workers own all the factors of production, not just labour) and market economies (prices determine efficient allocation of resources). New Zealand economist Steven O'Donnell expanded on the Bardhan and Roemer model and decomposed the capital function in a general equilibrium system to take account of entrepreneurial activity in market socialist economies. O'Donnell (2003) set up a model that could be used as a blueprint for transition economies and the results suggested that although market socialist models were inherently unstable in the long term, they would provide in the short term the economic infrastructure necessary for a successful transition from planned to market economies.

In the early 21st century, the Marxian economist Richard D. Wolff refocused Marxian economics giving it a microfoundational focus. The core idea was that transition from capitalism to socialism required the reorganization of the enterprise from a top-down hierarchical capitalist model to a model where all key enterprise decisions (what, how, and where to produce and what to do with outputs) were made on a one-worker, one vote basis. Wolff called them workers self-directed enterprises (WSDEs). How they would interact with one another and with consumers was left open to democratic social decisions and could entail markets or planning, or likely mixtures of both.

Advocates of market socialism such as Jaroslav Vaněk argue that genuinely free markets are not possible under conditions of private ownership of productive property. Instead, he contends that the class differences and inequalities in income and power that result from private ownership enable the interests of the dominant class to skew the market to their favor, either in the form of monopoly and market power, or by utilizing their wealth and resources to legislate government policies that benefit their specific business interests. Additionally, Vaněk states that workers in a socialist economy based on cooperative and self-managed enterprises have stronger incentives to maximize productivity because they would receive a share of the profits (based on the overall performance of their enterprise) in addition to receiving their fixed wage or salary. The stronger incentives to maximize productivity that he conceives as possible in a socialist economy based on cooperative and self-managed enterprises might be accomplished in a free-market economy if employee-owned companies were the norm as envisioned by various thinkers including Louis O. Kelso and James S. Albus.^[48]

Anti-equilibrium economics[edit]

Another form of market socialism has been promoted by critics of central planning and generally of neoclassical general equilibrium theory. The most notable of these economists were Alec Nove and János Kornai. In particular, Alec Nove proposed what he called feasible socialism, a mixed economy consisting of state-run enterprises, autonomous publicly owned firms, cooperatives and small-scale private enterprise operating in a market economy that included a role for macroeconomic planning.^[49]

In practice[edit]

A number of market socialist elements have existed in various economies. The economy of the former Socialist Federal Republic of Yugoslavia is widely considered to have been a form of market-based socialism, based on socially-owned cooperatives, workers' self-management and market allocation of capital.^[50] Some of the economic reforms introduced during the Prague Spring by Alexander Dubček, the leader of Czechoslovakia, included elements of market socialism.^[51]

Likewise, Vietnam's socialist-oriented market economy is self-described as market socialist. It has an extremely high prevalence of cooperatives, especially in agriculture and retail, with the continued state ownership of the commanding heights of the economy.^[52] Cooperative businesses in Vietnam are also incentivized and supported by the government, receiving many benefits that private companies do not.^[53]

The Mondragon Corporation in the Basque Country, Coop in Italy and cooperatives in many other countries are widely cited as highly successful co-operative enterprises based on worker- or consumer-ownership and democratic management.^{[citation needed]} Peter Drucker described the United States system of regulated pension funds providing capital to financial markets as "pension fund socialism".^[54] William H. Simon characterized pension fund socialism as "a form of market socialism", concluding that it was promising but perhaps with prospects more limited than those envisioned by its enthusiasts.^[55]

The economy of Cuba under the rule of Raúl Castro has been described as attempting market socialist reforms.^[56] Similarly, the economy of Libya under Muammar Gaddafi could be described as a form of market socialism as Muammar Gaddafi's Third International Theory shared many similarities with Yugoslav self-management.^[57]^[58]

Policies similar to the market socialist proposal of a social dividend and basic income scheme have been implemented on the basis of public ownership of natural resources in Alaska (Alaska Permanent Fund) and in Norway (the Government Pension Fund of Norway).

Relation to political ideologies[edit]

Marxism–Leninism[edit]

The phrase market socialism has occasionally been used in reference to any attempt by a Soviet-type planned economy to introduce market elements into its economic system. In this sense, market socialism was first attempted during the 1920s in the Soviet Union as the New Economic Policy (NEP) before being abandoned. Later, elements of market socialism were introduced in Hungary (where it was nicknamed goulash communism), Czechoslovakia and Yugoslavia (see Titoism) in the 1970s and 1980s. The contemporary Economy of Belarus has been described as a market socialist system. The Soviet Union attempted to introduce a market system with its perestroika reforms under Mikhail Gorbachev. During the later stages there was talk within top circles that the Soviet Union should move toward a market-based socialist system.

Historically, these kinds of market socialist systems attempt to retain state ownership of the commanding heights of the economy such as heavy industry, energy and infrastructure while introducing decentralised decision making and giving local managers more freedom to make decisions and respond to market demands. Market socialist systems also allow private ownership and entrepreneurship in the service and other secondary economic sectors. The market is allowed to determine prices for consumer goods and agricultural products, and farmers are allowed to sell all or some of their products on the open market and keep some or all of the profit as an incentive to increase and improve production.

Socialism with Chinese characteristics[edit]

The term market socialism has been used to refer to reformed economic systems in Marxist–Leninist states, most notably in reference to the contemporary economy of the People's Republic of China, where a free price system is used for the allocation of capital goods in both the state and private sectors. However, Chinese political and economic proponents of the socialist market economy do not consider it to be a form of market socialism in the neoclassical sense^[59] and many Western economists and political scientists question the degree to which this model constitutes a form of market socialism, often preferring to describe it as state capitalism.^[60]

Although similar in name, market socialism differs markedly from the socialist market economy and socialist-oriented market economy models practiced in the contemporary People's Republic of China and Socialist Republic of Vietnam, respectively. Officially these economic systems represent market economies that are in the long-term process of transition toward socialism.^[61] Key differences between models of market socialism and the Chinese and Vietnamese models include the role of private investment in enterprises, the lack of a social dividend or basic income system to equitably distribute state profits among the population and the existence and role of financial markets in the Chinese model—markets which are absent in the market socialist literature.^[60]

The Chinese experience with socialism with Chinese characteristics is frequently referred to as a socialist market economy where the commanding heights are state-owned, but a substantial portion of both the state and private sectors of economy are governed by market practices, including a stock exchange for trading equity and the utilization of indirect macroeconomic market mechanisms (i.e. fiscal, monetary and industrial policies) to influence the economy in the same manner governments affect the economy in capitalist economies. The market is the arbitrator for most economic activity, with economic planning being relegated to macro-economic government indicative planning that does not encompass the microeconomic decision-making that is left to the individual organizations and state-owned enterprises. This model includes a significant amount of privately owned firms that operate as a business for profit, but only for consumer goods and services.^[62]

In the Chinese system, directive planning based on mandatory output requirements and quotas were displaced by market mechanisms for most of the economy, including both the state and private sectors, although the government engages in indicative planning for large state enterprises.^[62] In comparison with the Soviet-type planned economy, the Chinese socialist market model is based on the corporatization of state institutions, transforming them into joint-stock companies. As of 2008, there were 150 state-owned corporations directly under the central government.^[63] These state-owned corporations have been reformed and become increasingly dynamic and a major source of revenue for the state in 2008,^[64]^[65] leading the economic recovery in 2009 during the wake of the global financial crises.^[66]

This economic model is defended from a Marxist–Leninist perspective which states that a planned socialist economy can only emerge after first developing the basis for socialism through the establishment of a market economy and commodity-exchange economy; and that socialism would only emerge after this stage has exhausted its historical necessity and gradually transforms itself into socialism.^[59] Proponents of this model argue that the economic system of the former Soviet Union and its satellite states attempted to go from a natural economy to a planned economy by decree, without passing through the necessary market economy phase of development.^[67]

Democratic socialism[edit]

Some democratic socialists advocate forms of market socialism, some of which are based on self-management. Others advocate for a non-market participatory economy based on decentralized economic planning.^[68]

Anarchism[edit]

Pierre-Joseph Proudhon was the primary proponent of mutualism and influenced many later individualist anarchist and social anarchist thinkers

The French philosopher Pierre-Joseph Proudhon is the first person to call himself an anarchist and considered among its most influential theorists. Proudhon is considered by many to be the "father of anarchism".^[69] Proudhon became a member of the French Parliament after the French Revolution of 1848, whereon he referred to himself as a federalist.^[70] Proudhon's best-known assertion is that "Property is theft!", contained in his first major work What Is Property?, published in 1840. The book's publication attracted the attention of the French authorities. It also attracted the scrutiny of Karl Marx, who started a correspondence with Proudhon. The two influenced each other and met in Paris while Marx was exiled there. Their friendship finally ended when Marx responded to Proudhon's The Philosophy of Poverty with the provocatively titled The Poverty of Philosophy. The dispute became one of the sources of the split between the anarchist and Marxist wings of the International Working Men's Association. Mutualism is an anarchist school of thought and market socialist economic theory that advocates a socialist society where each person possess a means of production, either individually or collectively, with trade representing equivalent amounts of labor in the free market.^[71] Integral to the scheme was the establishment of a mutual-credit bank that would lend to producers at a minimal interest rate, just high enough to cover administration.^[72] Mutualism is based on a labor theory of value which holds that when labor or its product is sold it ought to receive in exchange goods or services embodying "the amount of labor necessary to produce an article of exactly similar and equal utility".^[73]

Mutualism originated from the writings of Proudhon. Mutualists oppose the idea of individuals receiving an income through loans, investments and rent as they believe these individuals are not laboring. Although opposed this type of income, Proudhon expressed that he had never intended "to forbid or suppress, by sovereign decree, ground rent and interest on capital. I think that all these manifestations of human activity should remain free and voluntary for all: I ask for them no modifications, restrictions or suppressions, other than those which result naturally and of necessity from the universalization of the principle of reciprocity which I propose".^[74] Insofar as they ensure the worker's right to the full product of their labor, mutualists support markets or artificial markets and property in the product of labor. However, mutualists argue for conditional titles to land, whose ownership is legitimate only so long as it remains in use or occupation (which Proudhon called possession),^[75] advocating personal property in place of private property.^[76]^[77] However, some individualist anarchists such as Benjamin Tucker started calling possession as property or private property.^[78]^[79]

Josiah Warren is widely regarded as the first American anarchist^[29] and the four-page weekly paper he edited during 1833, The Peaceful Revolutionist, was the first anarchist periodical published.^[30] For American anarchist historian Eunice Minette Schuster, "[i]t is apparent [...] that Proudhonian Anarchism was to be found in the United States at least as early as 1848 and that it was not conscious of its affinity to the Individualist Anarchism of Josiah Warren and Stephen Pearl Andrews. [...] William B. Greene presented this Proudhonian Mutualism in its purest and most systematic form".^[80] Later, the American individualist anarchist Benjamin Tucker "was against both the state and capitalism, against both oppression and exploitation. While not against the market and property he was firmly against capitalism as it was, in his eyes, a state-supported monopoly of social capital (tools, machinery, etc.) which allows owners to exploit their employees, i.e. to avoid paying workers the full value of their labour. He thought that the "labouring classes are deprived of their earnings by usury in its three forms, interest, rent and profit". Therefore, "Liberty will abolish interest; it will abolish profit; it will abolish monopolistic rent; it will abolish taxation; it will abolish the exploitation of labour; it will abolish all means whereby any labourer can be deprived of any of his product". This stance puts him squarely in the libertarian socialist tradition and, unsurprisingly, Tucker referred to himself many times as a socialist and considered his philosophy to be "[a]narchistic socialism".^[81]^[82]

Benjamin Tucker, American individualist anarchist

French individualist anarchist Émile Armand shows clearly opposition to capitalism and centralized economies when he said that the individualist anarchist "inwardly he remains refractory – fatally refractory – morally, intellectually, economically (The capitalist economy and the directed economy, the speculators and the fabricators of single systems are equally repugnant to him.)".^[83] He argued for a pluralistic economic logic when he said that "Here and there everything happening – here everyone receiving what they need, there each one getting whatever is needed according to their own capacity. Here, gift and barter – one product for another; there, exchange – product for representative value. Here, the producer is the owner of the product, there, the product is put to the possession of the collectivity".^[84] The Spanish individualist anarchist Miguel Giménez Igualada thought that "capitalism is an effect of government; the disappearance of government means capitalism falls from its pedestal vertiginously. [...] That which we call capitalism is not something else but a product of the State, within which the only thing that is being pushed forward is profit, good or badly acquired. And so to fight against capitalism is a pointless task, since be it State capitalism or Enterprise capitalism, as long as Government exists, exploiting capital will exist. The fight, but of consciousness, is against the State".^[85] His view on class division and technocracy are as follows "Since when no one works for another, the profiteer from wealth disappears, just as government will disappear when no one pays attention to those who learned four things at universities and from that fact they pretend to govern men. Big industrial enterprises will be transformed by men in big associations in which everyone will work and enjoy the product of their work. And from those easy as well as beautiful problems anarchism deals with and he who puts them in practice and lives them are anarchists. [...] The priority which without rest an anarchist must make is that in which no one has to exploit anyone, no man to no man, since that non-exploitation will lead to the limitation of property to individual needs".^[86]

Left-wing market anarchism is a market socialist form of individualist anarchism, left-libertarianism and libertarian socialism^[87] associated with scholars such as Kevin Carson,^[88]^[89] Roderick T. Long,^[90]^[91] Charles W. Johnson,^[92] Brad Spangler,^[93] Samuel Edward Konkin III,^[94] Sheldon Richman,^[95]^[96]^[97] Chris Matthew Sciabarra^[98] and Gary Chartier,^[99] who stress the value of radically free markets, termed freed markets to distinguish them from the common conception which these libertarians believe to be riddled with capitalist and statist privileges.^[100] Referred to as left-wing market anarchists^[101] or market-oriented left-libertarians,^[97] proponents of this approach strongly affirm the classical liberal ideas of free markets and self-ownership while maintaining that taken to their logical conclusions these ideas support anti-capitalist, anti-corporatist, anti-hierarchical, pro-labor positions in economics; anti-imperialism in foreign policy; and thoroughly liberal or radical views regarding socio-cultural issues.^[102]^[103]

The genealogy of contemporary left-wing market anarchism, sometimes labelled market-oriented left-libertarianism,^[104] overlaps to a significant degree with that of Steiner–Vallentyne left-libertarianism as the roots of that tradition are sketched in the book The Origins of Left-Libertarianism.^[105] Carson–Long-style left-libertarianism is rooted in 19th-century mutualism and in the work of figures such as Thomas Hodgskin, French Liberal School thinkers such as Gustave de Molinari and the American individualist anarchists Benjamin Tucker and Lysander Spooner. While with notable exceptions market-oriented libertarians after Tucker tended to ally with the political right, relationships between those libertarians and the New Left thrived in the 1960s, laying the groundwork for modern left-wing market anarchism.^[106] Left-wing market anarchism identifies with left-libertarianism which names several related yet distinct approaches to politics, society, culture and political and social theory, which stress both individual freedom and social justice.^[107]

Unlike right-libertarians, left-libertarians believe that neither claiming nor mixing one's labor with natural resources is enough to generate full private property rights^[108]^[109] and maintain that natural resources (land, oil, gold and trees) ought to be held in some egalitarian manner, either unowned or owned collectively.^[109] Those left-libertarians who support property do so under different property norms^[110]^[111]^[112]^[113] and theories,^[114]^[115]^[116] or under the condition that recompense is offered to the local or global community.^[109]

Criticism[edit]

Market abolitionists such as David McNally argue in the Marxist tradition that the logic of the market inherently produces inequitable outcomes and leads to unequal exchanges, arguing that Adam Smith's moral intent and moral philosophy espousing equal exchange was undermined by the practice of the free market he championed—the development of the market economy involved coercion, exploitation and violence that Smith's moral philosophy could not countenance. McNally criticizes market socialists for believing in the possibility of fair markets based on equal exchanges to be achieved by purging parasitical elements from the market economy such as private ownership of the means of production, arguing that market socialism is an oxymoron when socialism is defined as an end to wage labour.^[117]

References[edit]

^ Schweickart, David; Lawler, James; Tickten, Hillel; Ollman, Bertell (2016-04-22). Market Socialism: The Debate Among Socialists. Taylor & Francis. p. 105. ....it is important to realize that the school of thinking calls itself "market socialism" is further divisible along three different lines: (1) whether it's goal, market socialism, involves only worker-owned enterprises, or a mix of enterprises some worker-owned, some privately-owned, some nationalized, etc. (2) whether market socialism will eventually by followed by communism...
^ Corneo, Giacomo (2017). Is Capitalism Obsolete? A Journey through Alternative Economic Systems,. Cambridge, MA: Harvard University Press. pp. 192–197.
^ Dagger, Richard; Ball, Terence. "socialism". Encyclopedia Britannica. Encyclopedia Britannica. Retrieved 31 January 2022. Proposals have varied, but the basic idea is that businesses will compete for profits, as in capitalism, but they will be owned, or at least governed, by those who work in them.
^ O'Hara, Phillip (September 2000). Encyclopedia of Political Economy, Volume 2. Routledge. p. 71. ISBN 978-0415241878. Market socialism is the general designation for a number of models of economic systems. On the one hand, the market mechanism is utilized to distribute economic output, to organize production and to allocate factor inputs. On the other hand, the economic surplus accrues to society at large rather than to a class of private (capitalist) owners, through some form of collective, public or social ownership of capital.
^ Buchanan, Alan E. (1985). Ethics, Efficiency and the Market. Oxford University Press US. pp. 104–105. ISBN 978-0-8476-7396-4.
^ Gregory, Paul R.; Stuart, Robert C. (2003). Comparing Economic Systems in the Twenty-First Century. p. 142. ISBN 0-618-26181-8. It is an economic system that combines social ownership of capital with market allocation of capital...The state owns the means of production, and returns accrue to society at large.
^ Marangos, John (2004). "Social Dividend Versus Basic Income Guarantee in Market Socialism". International Journal of Political Economy. 34 (3): 20–40. doi:10.1080/08911916.2004.11042930. JSTOR 40470892. S2CID 153267388.
^ Bockman, Johanna (2011). Markets in the name of Socialism: The Left-Wing origins of Neoliberalism. Stanford University Press. ISBN 978-0-8047-7566-3.
^ Roosevelt III, Franklin Delano; Belkin, David (1994). Why Market Socialism?. M.E. Sharpe, Inc. p. 314. ISBN 978-1-56324-465-0. Social democracy achieves greater egalitarianism via ex post government taxes and subsidies, where market socialism does so via ex ante changes in patterns of enterprise ownership.
^ McNally, David (1993). Against the Market: Political Economy, Market Socialism and the Marxist Critique. Verso. p. 44. ISBN 978-0-86091-606-2. [...] [B]y the 1820s, 'Smithian' apologists for industrial capitalism confronted 'Smithian' socialists in a vigorous, and often venomous, debate over political economy.
^ Steele, David Ramsay (September 1999). From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation. Open Court. p. 177. ISBN 978-0875484495. It was in the early 1920s that the expression 'market socialism' (marktsozialismus) became commonplace. A special term was considered necessary to distinguish those socialists prepared to accept some role for factor markets from the now mainstream socialists who were not.
^ Stiglitz, Joseph E. (1996). Whither Socialism?. Cambridge, MA: MIT Press. ISBN 9780262691826.
^ Roemer, John (1 January 1994). A Future for Socialism. Harvard University Press. p. 28. ISBN 978-0674339460. The first stage was marked by the realization by socialists that prices must be used for economic calculation under socialism; accounting in some kind of 'natural unit,' such as the amount of energy or labor commodities embodied, simply would not work. The second stage was characterized by the view that it would be possible to calculate the prices at which general equilibrium would be reached in a socialist economy by solving a complicated system of simultaneous equations [...]. The third stage was marked by the realization, by Lange and others, that markets would indeed be required to find the socialist equilibrium [...].
^ Steele, David Ramsay (September 1999). From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation. Open Court. p. 177. ISBN 978-0875484495. It was in the early 1920s that the expression 'market socialism' (marktsozialismus) became commonplace. A special term was considered necessary to distinguish those socialists prepared to accept some role for factor markets from the now mainstream socialists who were not.
^ Corneo, Giacomo (2017). s Capitalism Obsolete? A Journey through Alternative Economic Systems. Cambridge, MA: Harvard University Press. ...the federal shareholder should retain only 51 percent of their shares. Private ownership of the remaining 29% percent has a key role to play in creating an incentive structure that leads those firms to maximize profits.
^ "Towards Shareholder Socialism? | An interview with Giacomo Corneo". Medium. The blueprint has private ownership in the means of production with respect to small- and medium-sized firms, because we think that individualism at the level of entrepreneurial initiatives is an important ingredient for economic dynamism. But all large firms would be in public ownership, and this would be the key difference with respect to today’s economic system.
^ Hunt, E. K. (20 November 2002). Property and Prophets: the evolution of economic institutions and ideologies. M.E. Sharpe. p. 72. ISBN 978-0-7656-0609-9.
^ Carson, Kevin (16 July 2006). "J.S. Mill, Market Socialist". Mutualist Blog: Free Market Anti-Capitalism. Retrieved 2 March 2016.
^ Mill, John Stuart (2004). Bentham, Jeremy; Ryan, Alan (eds.). Utilitarianism and other essays. London: Penguin Books. p. 11. ISBN 978-0-14-043272-5.
^ Jump up to:^a ^b Wilson, Fred, ed. (2007). "John Stuart Mill: Political Economy". Stanford Encyclopedia of Philosophy. Stanford University. Retrieved 4 May 2009.
^ Mill, John Stuart (1852). "On The General Principles of Taxation, V.2.14". Principles of Political Economy. [Online Library of Liberty]. Retrieved 6 January 2013. (3rd edition; the passage about flat taxation was altered by the author in this edition, which is acknowledged in this online edition's footnote 8. This sentence replaced in the 3rd ed. a sentence of the original: "It is partial taxation, which is a mild form of robbery".
^ Ekelund, Robert B. Jr.; Hébert, Robert F. (1997). A history of economic theory and method (4th ed.). Waveland Press [Long Grove, Illinois]. p. 172. ISBN 978-1-57766-381-2.
^ Baum, Bruce. (2007). "J. S. Mill and Liberal Socialism". In Urbanati, Nadia; Zachars, Alex (eds.). J. S. Mill's Political Thought: A Bicentennial Reassessment. Cambridge: Cambridge University Press. Mill, in contrast, advances a form of liberal democratic socialism for the enlargement of freedom as well as to realize social and distributive justice. He offers a powerful account of economic injustice and justice that is centered on his understanding of freedom and its conditions
^ John Stuart Mill (1909). William James Ashley (ed.). Principles of Political Economy with some of their Applications to Social Philosophy (7th ed.). London: Longmans, Green and Co.
^ Kevin Carson (19 January 2006). "Eugene Plawiuk on Anarchist Socialism". Mutualist Blog: Free Market Anti-Capitalism. Retrieved 2 March 2016.
^ Bookchin, Murray (1992). The Ghost of Anarcho-Syndicalism.
^ Graham, Robert. The General Idea of Proudhon's Revolution.
^ Eunice Minette Schuster. "Native American Anarchism: A Study of Left-Wing American Individualism". againstallauthority.org. Archived from the original on 14 February 2016. Retrieved 2 March 2016.
^ Jump up to:^a ^b ^c Palmer, Brian (29 December 2010). "What do anarchists want from us?". Slate.com.
^ Jump up to:^a ^b ^c Bailie, William (1906). Josiah Warren: The First American Anarchist – A Sociological Study (PDF). Boston: Small, Maynard & Co. p. 20. Archived from the original (PDF) on 4 February 2012. Retrieved 17 June 2013.
^ "A watch has a cost and a value. The COST consists of the amount of labor bestowed on the mineral or natural wealth, in converting it into metals…". Warren, Josiah. Equitable Commerce
^ Charles A. Madison (January 1945). "Anarchism in the United States". Journal of the History of Ideas. 6 (1): 53.
^ Jump up to:^a ^b Tucker, Benjamin. Instead of a Book. p. 404.
^ Tucker, Benjamin (1926). Individual Liberty: Selections from the Writings of Benjamin R. Tucker. New York: Vanguard Press. pp. 1–19.
^ Chartier, Gary; Johnson, Charles W., eds. (5 November 2011). Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty (1 ed.). Minor Compositions.
^ Chartier, Gary (13 April 2010). Advocates of Freed Markets Should Oppose Capitalism. Free-Market Anti-Capitalism?. Cæsar's Palace, Las Vegas, NV: Association of Private Enterprise Education.
^ Chartier, Gary. "Advocates of Freed Markets Should Embrace 'Anti-Capitalism'".
^ Chartier, Gary; Tulsa Alliance of the Libertarian Left (12 September 2009). Socialist Ends, Market Means: Five Essays. Center for a Stateless Society.
^ Caffé, F. (1987). "Barone, Enrico". The New Palgrave: A Dictionary of Economics. Vol. 1. p. 195. ISBN 978-1-56159-197-8.
^ Barone, Enrico. "Il Ministro della Produzione nello Stato Collettivista" [The Ministry of Production in the Collectivist State]. Giornale degli Economisti (in Italian). 2: 267–93.
^ Hayek, Friedrich, ed. (1935). Collectivist Economic Planning. pp. 245–290. ISBN 978-0-7100-1506-8.
^ Hahnel, Robin (2005). Economic Justice and Democracy. Routledge. p. 170. ISBN 978-0-415-93344-5.
^ Taylor, Fred M. (1929). "The Guidance of Production in a Socialist State". The American Economic Review. 19 (1): 1–8. JSTOR 1809581.
^ Skousen, Mark (2001). Making Modern Economics. M.E. Sharpe. pp. 414–415. ISBN 978-0-7656-0479-8.
^ Kornai, János (1992). The Socialist System: the political economy of communism. Oxford University Press. p. 476. ISBN 978-0-19-828776-6.
^ Steele, David Ramsay (September 1999). From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation. Open Court. p. 151. ISBN 978-0875484495. Finally, there is the curious circumstance that Lange's system is widely hailed as a pioneering effort in the theory of market socialism, when it is demonstrably no such thing: even the name 'market socialism' predates Lange, and Lange's system is explicitly a proposal to replace the market with a non-market system.
^ Aslund, Anders (1992). Market Socialism Or the Restoration of Capitalism?. Cambridge University Press. p. 20. ISBN 9780521411936. Usually Oskar Lange is regarded as the originator of the concept of market socialism, in spite of the fact that he never spoke of market socialism and would not have been the first if he had. In fact, Lange's model involves only a partial market simulation for the trial-and-error iterative construction of a central plan, which belongs to the set of decentralization procedures in central planning.
^ Albert Perkins. "Cooperative Economics: An Interview with Jaroslav Vanek". New Renaissance Magazine. Vol. 5, no. 1. Retrieved 17 March 2011.
^ "Feasible Socialism: Market or Plan – Or Both".
^ Gagnon, Jr., V.P. (Summer 1991). "Yugoslavia: Prospects for Stability". Foreign Affairs. Retrieved 24 August 2021.
^ Golan, Galia (1971). Reform Rule in Czechoslovakia: The Dubcek Era 1968–1969. Cambridge University Press. ISBN 9780521085861.
^ Luong Minh Cu (13 August 2019). "Key role of the state economic sector in Vietnam's socialist-oriented market economy undeniable". National Defence Journal. Retrieved 5 August 2020.
^ "Vietnam to release white book on cooperatives". VietNam Breaking News. 10 March 2020. Retrieved 5 August 2020.
^ Drucker, Peter Ferdinand (1976). The Unseen Revolution: How Pension Fund Socialism Came to America. Harper Collins. ISBN 9780060110970.
^ Simon, William H. (1995). "Prospects for Pension Fund Socialism". In McCahery, J.; Picciotto, Sol; Scott, Colin (eds.). Corporate Control and Accountability: Changing Structures and the Dynamics. Oxford University Press. p. 167. ISBN 9780198259909.
^ "Cuba inches towards market socialism". BBC News. 27 March 2011. Retrieved 30 December 2019.
^ "Lybia" (PDF). Revolutionary Committees Movement.
^ Iveković, Ivan (3 April 2009). "Libijska džamahirija između prošlosti i sadašnjosti - 1. dio" [Libyan Jamahiriya between past and present - Part 1]. H-Alter (in Croatian). Retrieved 5 August 2020.
^ Jump up to:^a ^b Duan Zhongqiao. "Market Economy and Socialist Road" (PDF). Retrieved 4 February 2016.
^ Jump up to:^a ^b Du, Julan; Xu, Chenggang (April 2005). "Market socialism or Capitalism? Evidence from Chinese Financial Market Development, 2005". International Economic Association 2005 Round Table on Market and Socialism.
^ Michael Karadjis. "Socialism and the market: China and Vietnam compared". Links International Journal for Socialist Renewal. Retrieved 20 March 2013.
^ Jump up to:^a ^b Chow, Gregory C. (24–25 March 2004). The Role of Planning in China's Market Economy (PDF). International Conference on China's Planning System Reform. Asian Development Bank. Beijing. Archived from the original (PDF) on 2004-05-26.
^ "Reassessing China's State-Owned Enterprises". Forbes. 8 July 2008.
^ "Archived copy". Archived from the original on 11 July 2011. Retrieved 2 June 2010.
^ Ralston, David A.; Terpstra-Tong, Jane; Terpstra, Robert H.; Wang, Xueli. "Today's State-Owned Enterprises of China: Are They Dying Dinosaurs or Dynamic Dynamos?" (PDF). Archived from the original (PDF) on 20 July 2011.
^ "China grows faster amid worries". BBC News. 16 July 2009. Retrieved 12 May 2010.
^ Vuong, Quan-Hoang (February 2010). Financial Markets in Vietnam's Transition Economy: Facts, Insights, Implications. Saarbrücken, Germany: VDM Publishing. ISBN 978-3-639-23383-4.
^ Anderson and Herr, Gary L. and Kathryn G. (2007). Encyclopedia of Activism and Social Justice. SAGE Publications, inc. p. 448. ISBN 978-1412918121. Some have endorsed the concept of market socialism, a postcapitalist economy that retains market competition but socializes the means of production, and in some versions, extends democracy to the workplace. Some holdout for a nonmarket, participatory economy. All democratic socialists agree on the need for a democratic alternative to capitalism.
^ Guérin, Daniel (1970). Anarchism: From Theory to Practice. New York: Monthly Review Press.
^ Binkley, Robert C. Realism and Nationalism 1852-1871. Read Books. p. 118.
^ "Introduction". Mutualist.org. Retrieved 29 April 2010.
^ Miller, David (1987). "Mutualism". The Blackwell Encyclopedia of Political Thought. Blackwell Publishing. p. 11.
^ Tandy, Francis D. (1896). "Chapter 6". Voluntary Socialism.
^ Proudhon, Pierre-Joseph (1927). Cohen, Henry (ed.). Proudhon's Solution of the Social Problem. Vanguard Press.
^ Swartz, Clarence Lee. "What is Mutualism? VI. Land and Rent".
^ Crowder, George (1991). Classical Anarchism: The Political Thought of Godwin, Proudhon, Bakunin, and Kropotkin. Oxford: Clarendon Press. pp. 85–86. ISBN 9780198277446. The ownership [anarchists oppose] is basically that which is unearned [...] including such things as interest on loans and income from rent. This is contrasted with ownership rights in those goods either produced by the work of the owner or necessary for that work, for example his dwelling-house, land and tools. Proudhon initially refers to legitimate rights of ownership of these goods as 'possession,' and although in his latter work he calls this 'property,' the conceptual distinction remains the same.
^ Hargreaves, David H. (2019). Beyond Schooling: An Anarchist Challenge. London: Routledge. pp. 90–91. ISBN 9780429582363. Ironically, Proudhon did not mean literally what he said. His boldness of expression was intended for emphasis, and by 'property' he wished to be understood what he later called 'the sum of its abuses'. He was denouncing the property of the man who uses it to exploit the labour of others without any effort on his own part, property distinguished by interest and rent, by the impositions of the non-producer on the producer. Towards property regarded as 'possession' the right of a man to control his dwelling and the land and tools he needs to live, Proudhon had no hostility; indeed, he regarded it as the cornerstone of liberty, and his main criticism of the communists was that they wished to destroy it.
^ The Anarchist FAQ Editorial Collective. "Section G - Is individualist anarchism capitalistic?". An Anarchist FAQ (PDF). Retrieved 5 June 2020.
^ The Anarchist FAQ Editorial Collective. "Replies to Some Errors and Distortions in Bryan Caplan's 'Anarchist Theory FAQ' version 5.2". An Anarchist FAQ. Retrieved 24 August 2020. Tucker and Bakunin both shared Proudhon's opposition to private property (in the capitalist sense of the word), although Tucker confused this opposition (and possibly the casual reader) by talking about possession as 'property'
^ Schuster, Eunice Minette. "Native American Anarchism: A Study of Left-Wing American Individualism". Againstallauthority.org. Archived from the original on 14 February 2016. Retrieved 11 October 2013.
^ Various Authors. "Benjamin Tucker: Capitalist or Anarchist". An Anarchist FAQ. Archived from the original on 7 January 2012.
^ Tucker, Benjamin. Individual Liberty. The economic principles of Modern Socialism are a logical deduction from the principle laid down by Adam Smith in the early chapters of his "Wealth of Nations," – namely, that labor is the true measure of price...Half a century or more after Smith enunciated the principle above stated, Socialism picked it up where he had dropped it, and in following it to its logical conclusions, made it the basis of a new economic philosophy...This seems to have been done independently by three different men, of three different nationalities, in three different languages: Josiah Warren, an American; Pierre J. Proudhon, a Frenchman; Karl Marx, a German Jew...That the work of this interesting trio should have been done so nearly simultaneously would seem to indicate that Socialism was in the air, and that the time was ripe and the conditions favorable for the appearance of this new school of thought...So far as priority of time is concerned, the credit seems to belong to Warren, the American, – a fact which should be noted by the stump orators who are so fond of declaiming against Socialism as an imported article.
^ ""Anarchist Individualism as a Life and Activity" by Émile Armand". Spaz.org. 1 March 2002. Retrieved 11 October 2013.
^ Armand, Émile. "Anarchist Individualism and Amorous Comradeship".
^ Igualada, Miguel Giménez. "Anarquismo" (PDF) (in Spanish). el capitalismo es sólo el efecto del gobierno; desaparecido el gobierno, el capitalismo cae de su pedestal vertiginosamente.... Lo que llamamos capitalismo no es otra cosa que el producto del Estado, dentro del cual lo único que se cultiva es la ganancia, bien o mal habida. Luchar, pues, contra el capitalismo es tarea inútil, porque sea Capitalismo de Estado o Capitalismo de Empresa, mientras el Gobierno exista, existirá el capital que explota. La lucha, pero de conciencias, es contra el Estado.
^ Igualada, Miguel Giménez. "Anarquismo" (PDF) (in Spanish). ¿La propiedad? ¡Bah! No es problema. Porque cuando nadie trabaje para nadie, el acaparador de la riqueza desaparece, como ha de desaparecer el gobierno cuando nadie haga caso a los que aprendieron cuatro cosas en las universidades y por ese sólo hecho pretenden gobernar a los hombres. Porque si en la tierra de los ciegos el tuerto es rey, en donde todos ven y juzgan y disciernen, el rey estorba. Y de lo que se trata es de que no haya reyes porque todos sean hombres. Las grandes empresas industriales las transformarán los hombres en grandes asociaciones donde todos trabajen y disfruten del producto de su trabajo. Y de esos tan sencillos como hermosos problemas trata el anarquismo y al que lo cumple y vive es al que se le llama anarquista...El hincapié que sin cansancio debe hacer el anarquista es el de que nadie debe explotar a nadie, ningún hombre a ningún hombre, porque esa no-explotación llevaría consigo la limitación de la propiedad a las necesidades individuales.
^ Chartier, Gary; Johnson, Charles W. (2011). Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty. Brooklyn, NY: Minor Compositions/Autonomedia.
^ Carson, Kevin A. (2008). Organization Theory: A Libertarian Perspective. Charleston, SC: BookSurge.
^ Carson, Kevin A. (2010). The Homebrew Industrial Revolution: A Low-Overhead Manifesto. Charleston, SC: BookSurge.
^ Long, Roderick T. (2000). Reason and Value: Aristotle versus Rand. Washington, DC: Objectivist Center.
^ Long, Roderick T. (2008). "An Interview With Roderick Long".
^ Johnson, Charles W. (2008). "Liberty, Equality, Solidarity: Toward a Dialectical Anarchism". In Long, Roderick T.; Machan, Tibor (eds.). Anarchism/Minarchism: Is a Government Part of a Free Country?. Aldershot: Ashgate. pp. 155–188.
^ Spangler, Brad (15 September 2006). "Market Anarchism as Stigmergic Socialism". Archived from the original on 10 May 2011.
^ Konkin III, Samuel Edward. The New Libertarian Manifesto (PDF).
^ Richman, Sheldon (16 July 2006). "Why Left-Libertarian?". Retrieved 23 June 2010.
^ Richman, Sheldon (18 December 2009). "Workers of the World Unite for a Free Market". Freeman Online. Archived from the original on 22 July 2014.
^ Jump up to:^a ^b Richman, Sheldon (3 February 2011). "Libertarian Left: Free-market anti-capitalism, the unknown ideal". The American Conservative. Archived from the original on 10 June 2019. Retrieved 5 March 2012.
^ Sciabarra, Chris Matthew (2000). Total Freedom: Toward a Dialectical Libertarianism. University Park, PA: Pennsylvania State University Press.
^ Chartier, Gary (2009). Economic Justice and Natural Law. Cambridge: Cambridge University Press.
^ Gillis, William (2011). "The Freed Market". In Chartier, Gary; Johnson, Charles W. (eds.). Markets Not Capitalism. Brooklyn, NY: Minor Compositions/Autonomedia. pp. 19–20.
^ Chartier, Gary; Johnson, Charles W. (2011). Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty. Brooklyn, NY: Minor Compositions/Autonomedia. pp. 1–16.
^ Chartier, Gary; Johnson, Charles W., eds. (5 November 2011). Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty (1 ed.). Minor Compositions.
^ Gary Chartier has joined Kevin Carson, Charles Johnson, and others (echoing the language of Benjamin Tucker and Thomas Hodgskin) in maintaining that, because of its heritage and its emancipatory goals and potential, radical market anarchism should be seen – by its proponents and by others – as part of the socialist tradition, and that market anarchists can and should call themselves "socialists." See Gary Chartier, "Advocates of Freed Markets Should Oppose Capitalism," "Free-Market Anti-Capitalism?" session, annual conference, Association of Private Enterprise Education (Cæsar's Palace, Las Vegas, NV, 13 April 2010); Gary Chartier, "Advocates of Freed Markets Should Embrace 'Anti-Capitalism'"; Gary Chartier, Socialist Ends, Market Means: Five Essays. Cp. Tucker, "Socialism."
^ Chris Sciabarra is the only scholar associated with this school of left-libertarianism who is skeptical about anarchism; see Sciabarra's Total Freedom.
^ Vallentyne, Peter; Steiner, Hillel (2000). The origins of Left Libertarianism. Palgrave.
^ Long, Roderick T. (2006). Rothbard's 'Left and Right': Forty Years Later. Rothbard Memorial Lecture, Austrian Scholars Conference.
^
Related, arguably synonymous, terms include libertarianism, left-wing libertarianism, egalitarian-libertarianism, and libertarian socialism.
- Sundstrom, William A. "An Egalitarian-Libertarian Manifesto Archived 2013-10-29 at the Wayback Machine."
- Bookchin, Murray and Biehl, Janet (1997). The Murray Bookchin Reader. New York:Cassell. p. 170.
- Sullivan, Mark A. (July 2003). "Why the Georgist Movement Has Not Succeeded: A Personal Response to the Question Raised by Warren J. Samuels." American Journal of Economics and Sociology. 62:3. p. 612.
^ Vallentyne, Peter; Steiner, Hillel; Otsuka, Michael (2005). "Why Left-Libertarianism Is Not Incoherent, Indeterminate, or Irrelevant: A Reply to Fried" (PDF). Philosophy and Public Affairs. 33 (2): 201–215. doi:10.1111/j.1088-4963.2005.00030.x. Archived from the original (PDF) on 3 November 2012. Retrieved 23 July 2013.
^ Jump up to:^a ^b ^c Narveson, Jan; Trenchard, David (2008). "Left Libertarianism". In Hamowy, Ronald (ed.). The Encyclopedia of Libertarianism. Thousand Oaks, CA: SAGE; Cato Institute. pp. 288–89. doi:10.4135/9781412965811.n174. ISBN 978-1-4129-6580-4. LCCN 2008009151 . OCLC 750831024.
^ Schnack, William (13 November 2015). "Panarchy Flourishes Under Geo-Mutualism". Center for a Stateless Society. Archived 10 August 2018 at the Wayback Machine. Retrieved 10 August 2018.
^ Byas, Jason Lee (25 November 2015). "The Moral Irrelevance of Rent". Center for a Stateless Society. Retrieved 21 March 2020.
^ Carson, Kevin (8 November 2015). "Are We All Mutualists?" Center for a Stateless Society. Retrieved 21 March 2020.
^ Gillis, William (29 November 2015). "The Organic Emergence of Property from Reputation". Center for a Stateless Society. Retrieved 8 April 2020.
^ Bylund, Per (2005). Man and Matter: A Philosophical Inquiry into the Justification of Ownership in Land from the Basis of Self-Ownership (PDF). LUP Student Papers (master's thesis). Lund University. Retrieved 12 July 2020.
^ Long, Roderick T. (2006). "Land-locked: A Critique of Carson on Property Rights" (PDF). Journal of Libertarian Studies. 20 (1): 87–95.
^ Verhaegh, Marcus (2006). "Rothbard as a Political Philosopher" (PDF). Journal of Libertarian Studies. 20 (4): 3.
^ McNally, David (1993). Against the Market: Political Economy, Market Socialism and the Marxist Critique. Verso. ISBN 978-0-86091-606-2.

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