Lange Model

The Lange Model, first proposed by Oskar R. Lange, is a neoclassical economic model for a hypothetical socialist planned using a market mechanism to distribute goods. It uses a trial-and-error approach to determine output targets and achieve economic equilibrium and Pareto efficiency. In this model, the state owns non-labor factors of production, and markets allocate final goods and consumer goods. It was described as Market Socialism by Lange, attempted to solve the socialist calculation debate. It has yet to be applied.

Friends

 * [[File:Marketsoc.png]] Market Socialism - Workplace democracy and markets are good, but it's more efficient to plan things.

Frenemies

 * [[File: ML.png]] Marxism-Leninism - Why didn't you try me when we had the chance?

Enemies

 * [[File:Hayek.png]] Hayekism - Here's how prices will be determined in a planned economy :)