Can market socialism realize the socialist vision of the good society by ending exploitation and alienation, substantially reducing inequalities of wealth and income, ensuring full employment, and correcting other market irrationalities? A comparative analysis of the organizational forms of capitalism (notably the small owner?operated firm and the large corporation) and market socialism (the self?managed cooperative that rents its capital from the state) reveals the relative efficiencies of capitalism in reducing transaction costs, in turn reducing the opportunities for exploitation. By contrast, (...) the transaction cost inefficiencies of the organizations of market socialism permit and encourage forms of exploitation that are precluded or discouraged under capitalism. (shrink)

Environmental issues imperil the libertarian utopia of a society in which the individual is completely sovereign over his or her private domain. Taken seriously, this aspiration would lead to an environmentalism so extreme that it would preclude human life, since most human activity entails incursions against the sovereign realms of other human beings. The fallback position many libertarians have adopted?free?market environmentalism?retreats from libertarian ideals by permitting some of the physical aggression of pollution to continue. Free?market environmentalism does embody the postlibertarian (...) insight that collective decisions in mass democracies tend to be inferior to individual decisions in market economies. But so far, free?market environmentalism has stopped short of carrying this insight to its logical conclusion by proposing the complete depoliticization of environmental decision making. A thought experiment in environmental depoliticization reveals the practical limits of free?market environmentalism. The upshot is that neither libertarianism nor free?market environmentalism can culminate in anything close to the abolition of the modern state; they can, however, by problematizing certain aspects of that state, allow us a clearer understanding of political and cultural life. (shrink)

Capitalism is the best. It's free enterprise. Barter. Gimbels, if I get really rank with the clerk, 'Well I don't like this', how I can resolve it? If it really gets ridiculous, I go, 'Frig it, man, I walk.' What can this guy do at Gimbels, even if he was the president of Gimbels? He can always reject me from that store, but I can always go to Macy's. He can't really hurt me. Communism is like one big phone company. (...) Government control, man. And if I get too rank with that phone company, where can I go? I'll end up like a schmuck with a dixie cup on a thread. (shrink)