4 ms·
Krugman has touched on this a bit in recent posts, although he's still in "gathering evidence" mode on the issue. It's a very interesting and serious problem,
by afterburner 14y ago
Krugman has touched on this a bit in recent posts, although he's still in "gathering evidence" mode on the issue.
It's a very interesting and serious problem, and I very much agree that a "hybrid socialist system" is not the disaster some say it would be. We're not talking about centralized bureaucratic communism, but rather what is already in place in parts in many Western countries.
- eli_gottlieb 14y agoBesides, some studies by professional economists provided evidence that a "regulated capitalist" economy with imperfect markets is really not substantially more efficient (in the strictly economic sense of the word) than a "liberalized socialist" economy. Market optimality apparently turned out to be an all-or-nothing property of the mathematical models that gave rise to significantly different (but still amenable to scientific examination when we alter the models) behavior in the real world. http://jacobinmag.com/2012/12/the-red-and-the-black/ http://jacobinmag.com/2012/12/the-red-and-the-black/