Analysis of information sources in references of the Wikipedia article "시장사회주의" in Korean language version.
[...] [B]y the 1820s, 'Smithian' apologists for industrial capitalism confronted 'Smithian' socialists in a vigorous, and often venomous, debate over political economy.
The first stage was marked by the realization by socialists that prices must be used for economic calculation under socialism; accounting in some kind of 'natural unit,' such as the amount of energy or labor commodities embodied, simply would not work. The second stage was characterized by the view that it would be possible to calculate the prices at which general equilibrium would be reached in a socialist economy by solving a complicated system of simultaneous equations [...]. The third stage was marked by the realization, by Lange and others, that markets would indeed be required to find the socialist equilibrium [...].
Proposals have varied, but the basic idea is that businesses will compete for profits, as in capitalism, but they will be owned, or at least governed, by those who work in them.
