The essays contained herein span over a decade and reflect David Prychitko's thinking about the role of the market system, and its relation to planning and democratic processes. The collection consists of previously published and unpublished articles written not only for economists but also for an interdisciplinary audience. Prychitko extends the Austrian School's criticism of central planning to include the decentralized, self-managed and democratic models of socialism - those that were supposed to distinguish Yugoslav-style socialism from Soviet socialism. He critically evaluates the socialist and market-socialist proposals of contemporary advocates including Michael Albert and Robin Hahnel, Ted Burczak, Branko Horvat, and Joseph Stiglitz. A younger Austrian economist, Prychitko has also emerged as an internal critic within that tradition. He questions the Austrian School's claims that the unhampered market maximizes social welfare, that any actions of the state necessarily reduce welfare, and that anarcho-capitalism is viable and desirable. At the same time, he carefully discusses the viability of worker-managed enterprise from a market-process perspective, and offers a qualified defense. Scholars, particularly those with an interest in Austrian economic thought, comparative political economy and free market libertarianism will find this collection a valuable resource.

Since 1958, the economic theory of the participatory or labor-managed firm and its performance compared to capitalist firms, has exploded into a vast literature comprising several hundred articles. Indeed, as one early contributor has recently remarked, the theory has become a 'new discipline' in itself. Producer Cooperatives and Labor-Managed Systems provides, for the first time, a careful selection of the most significant theoretical and empirical contributions to this burgeoning field, and promises to become a valuable research tool and reference volume.

Market process theory is principally concerned with explaining how the market moves towards a state of general economic equilibrium and how production and consumption plans become coordinated. Market Process Theories presents in two volumes the most important articles by leading economists which contribute to an understanding of the processes of economic coordination.Volume I examines classical and neoclassical theories; it suggests that many classical writers can be interpreted as having anticipated a more dynamic disequilibrium analysis, and evaluates Marxian process theory also in this light. Other topics include analyses of price adjustment models, stability and disequilibria and a discussion of the challenge of increasing returns. Volume II deals with criticisms of standard theories such as institutionalism and post Keynesian criticisms. It also offers an exploration of the Swedish influence in the field with papers on the theory of savings and the concept of monetary equilibrium among others. Austrian economics is the subject of the final section, which explores such topics as the meaning of competition, process analysis and price and quantity adjustment.

This third volume in the series is divided into four parts. The first presents a symposium on models of socialism, the second presents current research, the third, review essays, and the fourth, book reviews.