a few remarks

Chris Matthew Sciabarra cms10 at SPAMis2.nyu.edu
Tue Sep 7 12:59:35 MDT 1999

We will probably have to return to this at a later date; there are a number
of problems with shadow prices.  Too busy currently to get into this, so
let's revisit -- if the interest remains -- in October, after my deadline.

>What is Chris' response to the type of participatory planning that
>is favored by Albert & Hahnel, which they contend provide a
>viable alternative to both Soviet-style central planning as well
>as to the various models for market socialism that have been
>proposed over the years by Oskar Lange, Abba Lerner,
>Schweikert, and John Roemer.  As I understand their proposals,
>economic planning would be carried out in a decentralized manner
>from the bottom up, in the form of an iterative process in which
>plans from workers collectives and consumer cooperatives would
>be aggregated into local, regional, and national plans, which in as much
>they would require adjustments in the original plans at the local
>work collective levels would in turn have to be approved.  Albert &
>Hahanel have attempted to formulate their proposals in the language
>of mathematical economics and they have attempted to show that
>the iterative processes involved in their planning models would
>produce solutions in which resources would be allocated in
>much the same way as would occur under a competive
>market system.  In this way they attempt to overcome the
>Misean-Hayekian type objections to planning.  Shadow
>prices instead of real prices would be used in this planning
>process as a means for communicating information about
>availability of resources. And extensive use would be made
>of computer networks (including presumably both the Internet
>and intranets for coordinating and trasmitting information between
>the various economic units).  Such a system would in their
>view achieve levels of efficiency comparable to that
>achieved by market economies.
>               Jim Farmelant
Chris Matthew Sciabarra, Visiting Scholar
NYU Department of Politics
715 Broadway
New York, New York  10003-6806
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