The study summarises the overall economic model of Hungarian economist Tibor Liska (1925–1994). The economic system of the model would be transcapitalistic inasmuch as being more self-regulating, through a “pure” market and unlimited competition, than capitalism as we know it. In this model, property is fully open to competition as gaining control over property in open competition is regarded as a fundamental human right. The model allows the state to have only regulatory functions, accordingly, a drastic reduction of the role of the public sector is needed. The self-controlled economy would also manage redistribution, education, environmental problems and all other socio-economic subsystems much more efficiently than present-day economies. The theory envisions a society without taxation, where all income is fully personal and all property (that is, means of production) is social but is in personal stewardship. The study outlines two subsystems of the model: those of social inheritance and personal social ownership. Finally it touches upon an attempt of putting the model into practice.
