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Lange model

The Lange model (or Lange–Lerner theorem) is a neoclassical economic model for a hypothetical socialist economy based on public ownership of the means of production and a trial-and-error approach to determining output targets and achieving economic equilibrium and Pareto efficiency. In this model, the state owns non-labor factors of production, and…

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Lange model

Nodes58
Edges57
Triples46
Avg. degree1.97
Density0.034483
Components1

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Lange model

Top relations

related to overview · 17
Lange model → Abba Lerner, For, Friedrich Hayek's, Lange, Lange's, Lerner, Ludwig, Léon Walras, Mises, Pareto, Pareto-efficient, The, The Lange, This, To, Vilfredo Pareto, Walras
related to Criticisms · 6
Lange model → According, Friedman, He, Lange, Milton Friedman, Other
related to Trial-and-error price adjustments · 6
Lange model → Because, Conversely, If, Lange, This, To
related to Basic principles · 5
Lange model → At, Households, MC, The, The Lange
related to Central planning board · 4
Lange model → CPB, First, Lange, The
related to Institutions · 3
Lange model → CPB, Lange, The
is a · 1
Lange model → form of centrally planned economy where a central planning board allocates investment and capital goods

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Important terminology

lange economic model socialism planning economy market lerner socialist price board doi central goods production jstor economics theory 10 state

Entity relationships Subject–Predicate–Object triples

SubjectPredicateObjectConfidenceSrc
Lange modelis aform of centrally planned economy where a central planning board allocates investment and capital goods0.90text
a democratic stateinstance ofThe Lange model states that if all production is performed by a public body0.80text
and there is a functioning price mechanisminstance ofThe Lange model states that if all production is performed by a public body0.80text
this economy will be Pareto-efficientinstance ofThe Lange model states that if all production is performed by a public body0.80text
like a hypothetical market economy under perfect competitioninstance ofThe Lange model states that if all production is performed by a public body0.80text
Lange modelrelated to Basic principlesThe Lange0.60section
Lange modelrelated to Basic principlesThe0.60section
Lange modelrelated to Basic principlesMC0.60section
Lange modelrelated to Basic principlesAt0.60section
Lange modelrelated to Basic principlesHouseholds0.60section
Lange modelrelated to Central planning boardThe0.60section
Lange modelrelated to Central planning boardCPB0.60section

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