Non Capitalist Economics

As we narrate of a "West World" entering a hera of increasing statecraft in economics, it is of some interest to go through non-mainstream economics models. Although such studies are unlikely to produce immediate returns, their role in future policy making should not be underestimated.

First of all - as an introduction, to have a rational thought on how we came to a free market system, you cannot miss the classics "Origin of Capitalism - A Longer View" by Ellen Meiksins Wood.

For high quality, holistic considerations on policies, futures (and statecraft) in US context, I want to highlight Stanford courses on "Global Futures: History, Statecraft, Systems", starring Condoleeza Rice, Stephen Kotkin, Norman Joshua.

Hereafter instead something more niche: rigorous mathematical frameworks and references exploring non-capitalist economic models. These span Marxian economics, complex systems theory, decentralized planning, game theory, and participatory economics, often blending insights from physics, computer science, and mathematics.

Please comment if you know better resources!

1. Marxian & Sraffian Economics

Focus: Labor-value theory, input-output models, and critiques of capitalist dynamics.

• Piero Sraffa – Production of Commodities by Means of Commodities (1960): A neo-Ricardian framework using linear algebra to model production systems without assuming equilibrium or market efficiency.

• Wassily Leontief – Input-Output Analysis: Mathematical models of interdependent production systems (used in both capitalist and planned economies).

• Anwar Shaikh – Capitalism: Competition, Conflict, Crises (2016): Synthesizes classical political economy with dynamical systems and chaos theory.

• Duncan Foley – Understanding Capital (1986): A mathematical treatment of Marx’s labor theory of value and crisis theory.

  
  

2. Agent-Based Modeling (ABM) & Complexity Economics

Focus: Simulating decentralized, non-market economies using computational methods.

• W. Brian Arthur – Complexity and the Economy (2015): Applies complexity theory (e.g., phase transitions, emergent order) to economic systems.

• Joshua Epstein – Agent_Zero: Toward Neurocognitive Foundations for Generative Social Science (2014): Uses ABMs to model collective behavior outside market paradigms.

• Python/NetLogo: Tools for building custom ABMs (e.g., simulating gift economies, commons-based systems).

  
  

3. Participatory Economics (Parecon)

Focus: Democratic planning, iterative algorithms, and non-hierarchical resource allocation.

• Michael Albert & Robin Hahnel – The Political Economy of Participatory Economics (1991): Proposes mathematical models for decentralized planning using nested worker/consumer councils.

• Cockshott & Cottrell – Towards a New Socialism (1993): Uses linear programming and input-output matrices for socialist resource allocation.

• Allin Cottrell – Economic Planning in the Age of Climate Crisis (2023): Updates socialist planning models with modern computational tools.

  
  

4. Game Theory & Cooperative Models

Focus: Non-competitive equilibria, coalitional games, and solidarity economies.

• Yanis Varoufakis – Game Theory: A Critical Text (2023): Critiques Nash equilibria and explores cooperative/evolutionary game theory.

• Hervé Moulin – Cooperative Microeconomics (1995): Mathematical models of fair division, cost-sharing, and collective decision-making.

• Elinor Ostrom – Governing the Commons (1990): Institutional analysis of non-market resource management (Nobel Prize-winning work).

  
  

5. Modern Physics-Inspired Models

Focus: Entropy, network theory, and non-equilibrium thermodynamics.

• Yaneer Bar-Yam – Dynamics of Complex Systems (1997): Applies statistical mechanics to economic resilience and collapse.

• Jean-Philippe Bouchaud – Econophysics: From Theory to Practice (2022): Critiques neoclassical economics and models wealth distribution via entropy maximization.

• Fritjof Capra & Ugo Mattei – The Ecology of Law (2015): Integrates systems theory and law for post-capitalist frameworks.

  
  

6. Decentralized Planning & Optimization

Focus: Combinatorial optimization, control theory, and cybernetic planning.

• Paul Cockshott – Classical Econophysics (2009): Uses Leontief matrices and computational models for socialist planning.

• Lange-Lerner Model: Early 20th-century mathematical arguments for market socialism (updated with modern algorithms).

• Venezuelan Project Cybersyn (1970s): A historical case study in real-time economic cybernetics (combining control theory and telex networks).

  
  

7. Feminist & Ecological Economics

Focus: Non-growth models, care economies, and biophysical limits.

• Herman Daly – Ecological Economics and Sustainable Development (2007): Steady-state economics with thermodynamics-based models.

• Julie A. Nelson – Economics for Humans (2006): Critiques utility maximization and formalizes care/work reciprocity.

• Kate Raworth – Doughnut Economics (2017): Systems-dynamics models balancing human needs and planetary boundaries.

  
  

Key Journals & Resources

• Review of Radical Political Economics: Marxist/Sraffian mathematical models.

• Journal of Economic Behavior & Organization: ABMs and complexity economics.

• Physica A: Econophysics research.

• arXiv.org: Search for "non-capitalist economics," "socialist planning," or "decentralized optimization."

  
  

Uhm, Where to Start From?

1. Start with Sraffa (1960) and Cockshott & Cottrell (1993) for foundational math.

2. Explore ABM tools (NetLogo/Python) to simulate non-capitalist systems.

3. Dive into econophysics (Bouchaud, Bar-Yam) for entropy-driven models.