I was under the impression that you can still have a market economy under socialism. That is, you can have workers own the means of production while still buying and selling goods through fairly normal means.
But maybe I'm misunderstanding?
Goods include capital equipment. If you can’t buy and sell machinery then you don’t have a market economy.
I don't understand. Why couldn't the teams that make the machines, the crews that make the steel, all the way down, all be worker owned companies in a market economy?
What happens when those crews get older and wanna retire and now they’re wealthy from all the money they made over their careers plus the value of the factory they own? Are they just gonna give that factory away for free to the next generation of young workers who have not a dime to their names?
No, of course not. They’re gonna sell the factory at fair market value.
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