In his recent book, A Future for Socialism, economist John Roemer claims to have created a model of market socialism immune to the Austrian criticism that economic coordination requires free-market pricing, profit-and-loss incentives, capital markets and private property. Underneath Roemer’s numerous contradictions and misunderstandings lies a profoundly mistaken belief that market competition can be made compatible with coercive egalitarianism.

Economic PolicyEconomistsEconomyPhilosophy and Religion
Other Independent Review articles by Michael Wohlgemuth
Summer 2005 The Communicative Character of Capitalistic Competition: A Hayekian Response to the Habermasian Challenge