Property, predation and socialist reality

Boettke, Peter J.

doi:10.1017/s1744137419000407

Cited by 5 publications

(1 citation statement)

References 35 publications

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“…People's ownership will be transferred to the members of the revolutionary party, who thereby become a ruling class, as in socialism. While the cyber-communist ideal is impossible, the communist reality involves the emergence and strengthening of totalitarian socialist regimes (Ebeling 2015;Boettke 2020;.…”

Section: The Impossibility Of Cyber-communism: a Property Rights Approachmentioning

confidence: 99%

Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process

2021

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The Austrian school economics and neo-Marxist theories both have been reviving in recent years. However, the current academic discussion lacks a debate between two schools of economics with diametrically opposed views. This paper is the first and an initial Austrian challenge to Neo-Marxist scholars Nieto and Mateo’s argumentation that cyber-communism and the Austrian theory of dynamic efficiency are consistent to enhance economic development. Their argument focuses on two issues: (a) the existence of circular reasoning in the Austrian theory of dynamic efficiency, and (b) dynamic efficiency and full economic development could be strongly promoted in a socialist system through new information and communication technologies (ICT) and the democratization of all economic life. While cyber-communism refers to cyber-planning without private property rights through ICT, dynamic efficiency refers to the entrepreneurs’ creative and coordinative natures. In this paper, first, we argue that the hypothesis that dynamic efficiency and cyber-communism is not compatible. Contrary to the above cyber-communist criteria, the Austrian theory of dynamic efficiency argues that to impede private property rights is to remove the most powerful entrepreneurial incentive to create and coordinate profit opportunities. Second, we argue that the cyber-communism system is inconsistent with economic development. In this regard, we explain how the institutional environment can cultivate or stifle dynamic efficiency and economic development. Having briefly outlined the central argument of Nieto and Mateo, we examine the institutional arrangement supporting cyber-communism. After that, we evaluate the implications of cyber-communism in the dynamic efficiency process. It becomes manifest that Nieto and Mateo’s accounts are too general to recognize the complexity of how economic development works.

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Section: The Impossibility Of Cyber-communism: a Property Rights Approachmentioning

confidence: 99%

Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process

2021

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János Kornai, the Austrians, and the political and economic analysis of socialism

Boettke

Candela

2020

Public Choice

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The Art and Science of Economic Explanation: Introduction to the Special Issue in Honor of Yoram Barzel

Candela

Piano²

2019

Journal of Institutional Economics

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This introduction to the special issue in honor of Professor Yoram Barzel provides an overview of his scholarship and a summary of the contributions to this special issue. Each contribution advances or elaborates upon major themes in Barzel's theoretical and applied work on property rights, transaction costs, and political economy. The contributions fall into three categories: an examination of the foundations and implications of the ‘Barzelian’ method for social scientific analysis; Barzel's economics of property rights and transaction costs to historical case studies; and advances to Barzel's theory of the state, which includes an analysis of the origins of democracy and the rule of law.

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Property, predation and socialist reality

Cited by 5 publications

References 35 publications

Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process

Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process

János Kornai, the Austrians, and the political and economic analysis of socialism

The Art and Science of Economic Explanation: Introduction to the Special Issue in Honor of Yoram Barzel

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