Yet, as with the labour market, we can’t simply revive the mid-20th century economy. By contrast, the 21st century economy is dominated by services including health, education and telecommunications, which require different forms of economic organisation. To reimagine a 21st century socialist economy we need to consider a much broader mix of forms of economic activity than those of the 20th century mixed economy. In deciding what kind of economic activity belongs where, a range of considerations are relevant. The idea of a socialist economy with unconditional access to basic incomes and greatly expanded provision of free services might seem utopian.

Source: The Guardian October 08, 2017 19:07 UTC