In this volume, the authors reflect on the question “what is socialism” as it pertains to today’s economy. There is particular emphasis on democratic socialism models as a potential alternative to classic authoritarian socialism. A number of topical questions are addressed such as: What is democratic socialism and is it feasible, or even viable? What can be learnt from existing democratic socialist experiences? What would an ideal democratic socialist society look like today? Under what circumstances, and where, could such a model emerge today? In exploring these questions, several themes arise within these chapters such as the role of socialist values and inspirations in capitalist societies; and how capitalism and socialism relate to the knowledge economy. The contemporary world is showing many contradictions with uncertain future scenarios that preoccupy mankind. The global capitalist system as we know it is in deep crisis—and some even predict its slow death, because of its inability to handle the environmental imperative. At the same time, classic socialism as experienced in the Soviet Union and its proxies is a stone dead alternative to capitalism today. So what options remain? The book considers this question as it examines a range of countries where socialism (in one form or another) has arisen, or where democratic socialism could be possible, including Brazil, Chile, Cuba, Sweden and the United States.

The bastard step-child of Milton Friedman and Anthony Bourdain, Socialism Sucks is a bar-crawl through former, current, and wannabe socialist countries around the world. Free market economists Robert Lawson and Benjamin Powell travel to countries like Venezuela, Cuba, Russia, and Sweden to investigate the dangers and idiocies of socialism—while drinking a lot of beer.

A look at the twentieth century examines the factors and events that have sent millions to their deaths, discussing the philosophies that have caused so much conflict, as well as what the future may hold for the human race.

The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies. Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.

Socialism was man's most ambitious attempt to supplant religion with a doctrine claiming to ground itself in “science.” Each failure to create societies of abundance or give birth to “the New Man” inspired more searching for the path to the promised land: revolution, communes, social democracy, communism, fascism, Arab socialism, African socialism. None worked, and some exacted a staggering human toll. Then, after two centuries of wishful thinking and bitter disappointment, socialism imploded in a fin de siècle drama of falling walls and collapsing regimes. It was an astonishing denouement but what followed was no less astonishing. After the hiatus of a couple of decades, new voices were raised, as if innocent of all that had come before, proposing to try it all over again. Joshua Muravchik traces the pursuit of this phantasm, presenting sketches of the thinkers and leaders who developed the theory, led it to power, and presided over its collapse, as well as those who are trying to revive it today. Heaven on Earth is a story filled with character and event while at the same time giving us an epic chronicle of a movement that tried to turn the world upside down—and for a time succeeded.