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Definition Of:

Market economy (Cont.)

Bible DictionaryDictionary of Political Economy
It is worth noting for clarity's sake that the concept of a market does not logically presuppose the existence of "private property in the means of production" in the sense that private individuals or family households are the owners of land and capital and thus the recipients of profits, interest, rent etc. One may at least theoretically conceive of an economy of market socialism, in which workers' collectives, consumers' cooperatives, village communes or even autonomous state agencies leased from the state or held actual title to land, mines, factories, machinery and so forth -- so long as the socialist production organizations were free to buy and sell their output and and the use of their assigned land or capital assets to each other at freely negotiated prices responsive to conditions of supply and demand (assuming, of course, they are allowed to keep effective control of the bulk of the proceeds). There are, of course, both theoretical and practical problems with market socialism, and the costs and benefits of capitalist markets cannot be uncritically attributed to such a system. The larger point is that socialist economies have historically included varying proportions of "remnant" market elements in their make-up, and the theoretical possibilities for additional "hybrid" forms are numerous. [See also: market , property rights , factors of production , contract , microeconomics , transaction costs , competition , capitalism , socialist ]

 

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List of Terms: Terms beginning with "A", Page 1

Starts With:  A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 3
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A: Page 1 of 19.

AAGRA
AAR
ABOLFAZL SHADVAR
ABSOLUTE POVERTY
ACCRUED INTEREST
ACHIEVED STATUS
ACID RAIN
ACUTE DISEASE
ADAPTATION
ADJUSTED GROSS ...AERO
AFFIRMATIVE ACT...
AG
AGE GRADES
AGE STRUCTURE
AGEISM
AGENCIES OF SOC...AGRA
AGRARIAN SOCIET...AGRIBUSINESS
AIDS (Acquired ...
AIR POLLUTION
ALAA
ALIENATION
ANDROGYNY
ANIMISM
ANOMIA
ANOMIE
ANOMIE THEORY
ANTHROPOLOGY
APARTHEID
APEC
APG
APPROPRIATE TEC...ARMS RACE
ARMS TRADE
ARRANGED MARRIA...ASCRIBED STATUS
ASSET PROTECTIO...
ASSETS
ASSIMILATION
AUTHORITARIAN P...
AUTHORITY
AUTOCRATIC RULE
AUTOMATION
Abatement
Abbey
Abbot
Ability-to-Pay ...Ablutophobia
Absolute Advant...
Absolute advant...Abundance
Acarophobia
Accelerator
Acceptance
Acceptance-reje...
Accolade
Accoutrement
Acerophobia
Acheronophobia
Achluophobia
Acid Rain
Acousticophobia
Acquired Endowm...Acquittal
Acre
Acrophobia
Act of Parliame...
Acting Speaker
Active Alumni M...Adaptive Expect...
Additive
Address in Repl...Administrator o...
Admiral
Adoubement
Advance estimate
Adventurous Shi...Adverse Selecti...Aeroacrophobia
Aeronausiphobia
Aerophobia
Affection
Agency problem
Agency problem ...Agency problem ...
Aggregate Deman...Aggregate Expen...Aggregate Suppl...
Aggregate demand
Aggregate supply
Aggression
Agincourt, Batt...Agliophobia
Agoraphobia
Agraphobia
Agrizoophobia
Agyrophobia

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