Finance under Socialism?

I conclude that we would not have a stock market in a socialist (co-op) economy as "shares" in the enterprise would presumably not be bought & sold as they are under capitalism. But various kinds of financing would still be necessary, i.e. loans of various sorts & arguably bonds. For small scale I can see credit unions functioning well. But what about major investments such as pubic infrastructure? Local governments may not be able to raise the tax revenue. Is pubic banking the answer? We would still need a finance sector of some sort, but what might it look like? Thank you.

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  • David Gassman
    published this page in Ask Prof. Wolff 2017-08-19 20:00:08 -0400