Purpose - Expanding and developing the theoretical implications of socialist market economy with China's experience. Design/methodology/approach - In the course of exploring the development of a market economy, China has given full play to the advantages of the socialist system, which has...

"Throughout history, groups of people disillusioned with society have tried to create utopian communities organized on new principles. Typically, they hold some or all of their property in common. Often, they are motivated by religious convictions, or by some type of socialist ideology. While...

This article aims to show that the Chinese development process over the past four decades is not a self-explanatory fact. It is a process that may have revealed the ultimate limitation of the current capacities for interpretation represented by both orthodox and heterodox approaches. This...

Arguments of Mises and Hayek, who opposed the planned economy (PE), are used in the paper as a starting point for establishing the objective area of effective application of the PE. The abstract model of PE, based on the definitions of Mises and Hayek, leads to the conclusion that for the...

How can we overcome the existing political, economic, and ecological crises that humanity faces? With the notion of the commons, Lukas Peter argues that this form of social organization can provide answers to the shortcomings of centralized states and open and competitive markets. By building on...

Neoclassical economics is bifurcated between Marshall’s partial-equilibrium and Walras’s general-equilibrium analyses. Given the failure of neoclassical theory to explain the Great Depression, Keynes proposed an explanation of involuntary unemployment. Keynes’s contribution was later...

"Bruno Jossa expertly illustrates that the creation of a system of cooperative firms is tantamount to a revolution giving rise to a new production mode capable of reversing the existing relationship between capital and labour. The book also demonstrates a revolution enacted by peaceful and...