The End of Socialism

The End of Socialism explores the difficulties socialism faces and examines the extent to which its moral ideals can guide policy.

James Otteson (Author)

9781107017313, Cambridge University Press

Hardback, published 6 October 2014

240 pages
23.1 x 15.7 x 1.8 cm, 0.43 kg

'James Otteson has written a comprehensive challenge to the socialist ideal that will be of interest to anyone concerned with the moral claims and implications of what are essentially the two competing economic systems of the world: socialism and capitalism … The book is written for nonspecialists, but it nonetheless makes a powerful intellectual case that the moral values of socialism, which seem worthy in the abstract, lose their appeal when they are translated into public policy.' Bradley C. S. Watson, Journals of Market and Morality

Is socialism morally superior to other systems of political economy, even if it faces practical difficulties? In The End of Socialism, James R. Otteson explores socialism as a system of political economy - that is, from the perspectives of both moral philosophy and economic theory. He examines the exact nature of the practical difficulties socialism faces, which turn out to be greater than one might initially suppose, and then asks whether the moral ideals it champions - equality, fairness, and community - are important enough to warrant attempts to overcome these difficulties nonetheless, especially in light of the alleged moral failings of capitalism. The result is an examination of the 'end of socialism', both in the sense of the moral goals it proposes and in the results of its unfolding logic.

1. What socialism and capitalism are
Part I. Socialism's Problems in Practice: 2. Knowledge and planning
3. Knowledge: value, equality, and experts
4. Knowledge and community
5. The day-two problem
Part II. Socialism's Problems in Principle: 6. Economics and morality
7. Respect and individuality
8. Socialism's great mistake
9. Prosperity
10. Equality and freedom
11. Fairness
Conclusion. Grapes sweet and sour.

Subject Areas: Political science & theory [JPA], Politics & government [JP]