> How do you square full employment with market socialism? Full employment
> and especially a constitutional right to a job really taked the bite out
> of labor markets and what labor markets do-- 'discipline' labor through
> fear of poverty ultimately leading to higher productivity and a hard
> budget constraint. Full employment leads to the 'principal-agent'
> problem, management has problems getting labor to carry out the
> necessary tasks. Wouldn't it just be better to abolish the venal labor
> market altogther?
Steve writes: Sam, what do you think of the market socialist strategy being employed in China? In China, whether right or left faction, labor markets are seen as one of the solutions to the problem of socialist productivity. Both sides also tend to see labor markets as providers of opportunities, when working normally.
Steve