Analyses the economics of socialism within the Marxian tradition. The ideas of Marx and Engels are included, as are those of the theorists of the Second International. The debate on market socialism associated with Oskar Lange also receives attention. The evolution of Mises′s and Hayek′s...

The law of value performs its regulatory function in the capitalist system where the private ownership of means of production and commodity production prevail. Under the centrally directed system of socialism, the economic process must be determined by plans and valuations of the central...

Documents and notes the specific content of Marx′s postulate (in the original German edition of Das Kapital , 1867) that “der Mensch von Natur ...ein gesellschaftliches thier ist”. All the prominent English editions (unlike the French, Russian, Italian and Spanish versions examined) except...

Examines the sources and implications of Mikhail Gorbachev′s policies insofar as they have been policies of liberalization. It is principally argued that Marxism has been a Western phenomenon and thereby a vehicle for the export of Western Enlightenment values to Third World countries but also...

Addresses two major problems. Argues first that the Stalinist model of socio‐economic development, with its actual emphasis on production for the sake of production, has been Ricardian in its nature. As a result, its dominant features have been the sellers′ market of shortages. Maintains,...

Marx is widely regarded today as an “evolutionary” economist. However, what is clear from a close examination of the writings of both Marx and Engels is that they did not actually take Darwin′s theory of natural selection on board. Consequently, if their theory of socio‐economic change...

Extensions/applications/revisions of the Marxian vision of socialism can broadly be categorized into two polar strands: the centralized and the decentralized strands of socialist economic systems. Explores the main postulates of a decentralized version of a socialist economic system as provided...

Rethinking Marxism after the Cold War includes the task of reconstructing its genesis, beginning with the role of left Hegelianism in Marx′s development of historical materialism. Reviews the debates within the Hegelian school at the time of Marx′s “conversion” to it, in order to situate...

Time has run out for the “Vanguard Party”, but the growing disparity in wealth between the industrialized world and the less‐developed world and growing problems of income distribution and public order still give life to the “Dream Economy” proposed by Marxists and others. If the dream...