Capitalism and Efficiency: A Review and Appraisal of the Recent Discussion
The paper reviews recent theoretical and empirical work by neo-Marxists suggesting that capitalist firms are inefficient, either technically or by Pareto criteria. The paper examines potential inefficiencies due to the division of labor, unemployment, labor segmentation/fragmentation, and bureaucracy/supervision. It is argued that technical inefficiency claims are incapable of being validated. While Pareto efficiency arguments may be warranted, presently existing socialist societies and experiments offer little persuasive evidence. Further empirical and theoretical work will be required to sustain efficiency arguments.
Year of publication: |
1986
|
---|---|
Authors: | Drago, Robert |
Published in: |
Review of Radical Political Economics. - Union for Radical Political Economics. - Vol. 18.1986, 4, p. 71-92
|
Publisher: |
Union for Radical Political Economics |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Race in relation to bank depositors and mortgage applications
Kashian, Russell, (2020)
-
Tornadoes, poverty and race in the USA : A five-decade analysis
Kashian, Russ D., (2021)
-
Bank deserts in the USA and the Great Recession : geography and demographics
Kashian, Russell D., (2018)
- More ...