Market abolitionist

Market abolitionism is a belief that the market, in the economic sense, should be completely eliminated from society. Market abolitionists argue that markets are morally abhorrent, antisocial and ultimately incompatible with human and environmental survival and that if left unchecked the market will annihilate both.

In large countries in the modern world, the only significant alternative to a market economy has been central planning as was practiced in the early USSR and in the People's Republic of China before the 1990s. Other proposed alternatives to the market economy —participatory planning as proposed in the theory of participatory economics ("Parecon"), an "artificial market" as proposed by advocates of Inclusive Democracy, and the idea of substituting a gift economy for a commodity exchange—have not yet been tried on a large scale in the modern industrialized world, though alternative organizational methods have been implemented successfully during short periods of time: the early stages of the Russian Revolution before it was taken over by the Bolsheviks, and the Spanish Revolution before it was crushed by the alliance of liberals and communists.

Michael Albert, creator of Znet and co-creator of participatory economics, considers himself a market abolitionist and favors democratic participatory planning as a replacement. He and several colleagues, including Robin Hahnel have elaborated their theory of "parecon" in books, on Znet, and in Z Magazine.

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