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" "Whereas many socialists have recently put their faith in market socialism, nineteenth-century socialists were, by contrast, for the most part opposed to market organization of economic life. The mainstream socialist pioneers favored something that they thought would be far superior, to wit, comprehensive central planning, which, it was hoped, could realize the socialist ideal of a truly sharing society. And the pioneers' successors were encouraged by what they interpreted as victories of planning, such as the industrialization of the Soviet Union and the early institution of educational and medical provision in the People's Republic of China. But central planning, at least as practiced in the past, is, we now know, a poor recipe for economic success, at any rate once a society has provided itself with the essentials of a modern productive system.
Gerald Allan "Jerry" Cohen (April 14, 1941 – August 5, 2009) was a Canadian Marxist political philosopher.
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The natural tendency of the market is to increase the scope of the social relations that it covers, because entrepreneurs see opportunities at the edge to turn what is not yet a commodity into one. Left to itself, the capitalist dynamic is self-sustaining, and socialists therefore need the power of organized politics to oppose it: their capitalist opponents, who go with the grain of the system, need that power less (which is not to say that they lack it!).
The technology for using base motives to productive economic effect is reasonably well understood. Indeed, the history of the twentieth century encourages the thought that the easiest way to generate productivity in a modern society is by nourishing the motives of which I spoke earlier, namely, those of greed and fear. But we should never forget that greed and fear are repugnant motives. Who would propose running a society on the basis of such motives, and thereby promoting the psychology to which they belong, if they were not known to be effective, if they did not have the instrumental value which is the only value that they have?