AskProfWolff: Markets and Private Property in a Socialist Society

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A patron asks: "Do markets exist in a socialist society? The market system under capitalism has failed to meet the needs of its citizens, especially in certain areas where the incentives of a market system do not yield appropriate social outcomes - like health insurance. But in many situations, free and fair markets are an efficient and effective way of distributing resources. Does private property exist in a socialist society?"

Showing 1 comment

  • Paul Bethea
    commented 2020-07-03 06:17:45 -0400
    There are some attention-grabbing deadlines on this article however I don’t know if I see all of them middle to heart. There is some validity however I will take maintain opinion till I look into it further. Good article , thanks and we wish extra!

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