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Eroding Capitalism with Market Socialism

Crises of capitalism and public dissatisfaction with the current prevailing socioeconomic system continue to fuel the debate on the alternatives to capitalism and its potential transformation. The strategy of the erosion of capitalism presents a possible approach to the dissipation of the prevailing influence of economic liberalism and its replacement with a more emancipatory socioeconomic system by combining three well-known anti-capitalist strategies of taming, resisting, and escaping. Market socialism combined with economic democracy and cooperatives is a possible alternative to the dominant order. The new system would continue to employ market principles with democratic self-managed workers’ cooperatives holding a prevailing influence on the economy and its activities. Market distribution forces would still work, while the democratic deficit of the current system and the negative effects of capitalism could be eliminated over time. One of the tools the strategy of the erosion of capitalism could employ to reach its goal are employee stock option plans, which could act as a vehicle to transform companies into cooperatives. In this way, the process of eroding capitalism with market socialism could offer a possible alternative to capitalism.


Article inside journal

Issue No. 271 - Solidarity Economies
Časopis za kritiko znanosti
2018 , volume volume 46 , issue issue 271