The Economics of Feasible Socialism

This is a path-breaking book. Characteristically readable, controversial and full of insights, Nove identifies a workable socialist programme, achievable in the lifetime of a child born today, that avoids far-fetched or utopian assumptions.

This text has been immensely influential in the West, and is available in translation in China, Hungary and the Soviet Union. Alec Nove begins by demonstrating why Marx’s theories provide a misleading guide to the issues facing economists under any realistically conceivable socialism. He goes on to discuss the problems experinced by communist-ruled countries, especially the Soviet Union, and to suggest possible remedies and solutions. Nove also examines problems of transition, in the context of Western industrialised countries and the Third World. He concludes by outlining a possible efficienct and human socialism, and examines objections to these ideas from the Left and the Right.

Alec Nove Emeritus Professor of Economics, University of Glasgow