With the near bankruptcy of centrally planned economies now apparent and with capitalism seemingly incapable of generating egalitarian outcomes in the first world and economic development in the third world, alternative approaches to managing economic affairs are an urgent necessity. Until now,...

This ambitious work presents a critique of traditional welfare theory and proposes a new approach to it. Radical economists Robin Hahnel and Michael Albert argue that an improved theory of social welfare can consolidate and extend recent advances in microeconomic theory, and generate exciting...

When worker-owned cooperatives trade goods and services at market prices they tend to reproduce differences in payments to members of more advantaged co-ops compared to members of less advantaged co-ops. Members of worker-owned cooperatives who believe this violates “cooperative principles”...

Will there be an international climate treaty to follow Kyoto when it expires in 2012, and if so what will it look like? Many climate justice and anti-capitalist spokespersons denounce the Kyoto Protocol as a “pretend solution†and reject international carbon trading altogether. This...

This article argues against contribution-based conceptions of economic justice and in favor of distribution according to effort or sacrifice. It responds to important objections implicit in the work of Robert Nozick and John Rawls, and argues that market socialist economies cannot avoid being...

Political economists who have abandoned the Marxian labor theory of value during the past few decades due to logical inconsistencies have failed to replace it with a logically sound theory that explains how and why the employment relationship is almost always exploitative even when labor markets...

We argue for the feasibility and desirability of a "third way" besides markets and authoritarian planning by (1) describing the main features of a model of "participatory planning," and (2) responding to objections that the system requires too many meetings, is too intrusive, misfocuses...

There are compelling reasons to believe there is an unhealthy growth imperative inherent in private enterprise market systems that threatens the environment. Unfortunately, many who criticize a dysfunctional growth imperative fail to make a compelling case. This article argues that too often...