Democracy and Economic Planning

This book is a wide-ranging analysis of the nature of economic planning in both capitalist and statist societies. It seeks to establish an alternative to market forces as a means of coordinating decentralized economic decisions. <p> Devine begins with an analysis of the theory and practice of capitalist planning, central planning and ‘market socialism’. He argues that, while market socialism is<br />currently favoured by many economists who reject both capitalism and the command planning of the Soviet model, it cannot fulfil the promises held out for it.</p> <p> In the remainder of the book Devine elaborates an alternative model based on the novel idea of ‘negotiated coordination’. The model combines system-wide with decentralized decision-making, recognizes the existence of differences of interest and incorporates a transformative dynamic in which individuals modify their attitudes in the light of the positions of others. The model offers a detailed account of how economic activity could be organised in a self-governing society.</p> <p> <i>Democracy and Economic Planning</i> will be of interest to students of economics, politics, sociology, and geography, as well as to a more general audience concerned with the nature of, and prospects for, socialism and democracy – life after capitalism.</p>