Capitalism versus Pragmatic Market Socialism

This book is a contribution to economic theory as well as to the evaluation of market socialism. As a contribution to economic theory, the general equilibrium model, utilized in the research introduces the concept of "capital management effort" as a primary factor of production provided by the private household. As a contribution to the evaluation of market socialism, this research sheds light on the potential performance of a specific variant of market socialism known as "pragmatic" market socialism.