3. A model for Market Socialism (1994)

This was the first conference organized around a book rather than a paper: John Roemer's, A Future for Socialism (Harvard University Press, 1994). The conference explored Roemer's proposal to create a form of market socialism in which there were two kinds of money -- dollars for the purchase of commodities and coupons for the purchase of shares in firms. The core of the proposal is that (a) these coupons are initially equally distributed to all adults and then used to buy shares which are subsequently traded on a coupon-share market; (b) coupons cannot be sold for dollars, so that dollar wealth cannot be converted into coupon wealth and coupon wealth cannot be directly converted into dollar wealth; (c) share ownership, denominated in coupon values, gives people property rights in the dollar profits of firms in the form of dividends. A subset of the papers appears in Politics & Society (December, 1994), and the entire set as the second volume in the Verso series, Equal Shares (1996).