An investigation into the metric space generated by commodity exchange. Shows that this is an non-Euclidean space. Provides empirical data comparing labour and electricity as the possible supports for this metric space.

We make the argument that what failed in the USSR was not socialist planning as such, but a particular and definitely flawed variant of same, and suggest the outlines of an alternative system of planning. The paper is complementary to our 1993 book, "Towards a New Socialism."

The collapse of previously existing socialism was due to causes embedded in its economic mechanism, which are not inherent in all possible socialisms. The article argues that Marxist economic theory, in conjunction with information technology, provides the basis on which a viable socialist...

This paper attempts a systematic examination of the significance of increasing returns for macroeconomic theory. Two main questions are addressed: (i) What are the implications for the construction of macromodels of the assumption of increasing returns? and (ii) What are the implications for the...

The report attempts of apply econophysics concepts to the Eurozone crisis. It starts by examining the idea of conservation laws as applied to market economies. It formulates a measure of financial entropy and gives numerical simulations indicating that this tends to rise. We discuss an analogue...

The article starts by examining the idea of conservation laws as applied to market economies. It formulates a measure of financial entropy and gives numerical simula-tions indicating that this tends to rise. We discuss an analogue for free energy released during this process. The concepts of...

The article attempts of apply econophysics concepts to the Eurozone crisis. It starts by examining the idea of conservation laws as applied to market economies. It formulates a measure of financial entropy and gives numerical simulations indicating that this tends to rise. We discuss an analogue...

We present a counter-argument against Mises' charge that rational economic calculation is impossible under socialism (a charge recently revived by Don Lavoie). The paper also considers other contributors to the Socialist Calculation Debate, such as Oskar Lange. It is complementary to our 1993...