- Oct 24, 2018
I was thinking about other price systems that we could use. I am sure many people has thought about this before us, that's why I looked upon Internet, or before when there was no internet, an Encyclopedia.lol. That assumption some ppl have on the internet, what only they have access to wikipedia always gets me. U made me laugh; thx.
There was this intent for price system besides capitalism market economy:
In the 1930s, the economists Oskar Lange and Abba Lerner developed a comprehensive model of a socialist economy that utilized a price system and money for the allocation of capital goods. In contrast to a free-market price system, "socialist" prices would be set by a planning board to equal the marginal cost of production to achieve neoclassical Pareto efficiency. Because this model of socialism relied upon money and administered prices as opposed to non-monetary calculation in physical magnitudes, it was labelled "market socialism". In effect, Oskar Lange conceded that calculations in a socialist system would have to be performed in value terms with a functioning price system rather than using purely natural or engineering criteria as in the classic concept of socialism.