This paper is challenging mainstream views about the contemporary Chinese system as a developmental state and a variety of capitalism. Based on a comparative analytical model (Csanádi, 1997, 2006) I will demonstrate that in China the general features of a communist system prevail to date, and...

In the context of international law, “transitology” is often used to describe the literature surrounding the former Soviet Union (fSU) and the subsequent reform attempts by Western and Eastern/Central European market reformers. While it is often acknowledged there have been other “waves”...

This paper aims to explain the rise and fall of communism by exploring the interplay between economic incentives and social preferences transmitted by ideology. We introduce inequality-averse and inefficiency-averse agents and analyze their conflict through the interaction between leaders with...

Today we can learn from the Communist Manifesto that unregulated markets lead to disastrous economic, social, and political developments, which can endanger the reproduction of the capital system itself. The liberal argument, based on Adam Smith's invisible hand - that markets coordinate the...

This chapter offers an overview and interpretation of Marx’s economics and his account of why capitalism should eventually yield to socialism. Topics covered include: the background of Marx’s labor theory of value in Smith and especially Ricardo; the failure of the labor theory of value as...

A large number of people around the world now support the idea of socialism and are critical of capitalism. These numbers, though growing, are not yet enough to end capitalism, but they form the basis for a movement to win over more people to socialism and away from a system dominated by...