"Socialism" is a word that is now habitually taken to refer to a particular social system that prevailed in different parts of the globe during the twentieth century. This system was defined primarily by single-party rule with public (mainly state) ownership of the means of production along with a centrally planned economy. Its material base was generalised commodity production. The spokespersons of this system claim that this socialism was derived from Marx.
Paresh Chattopadhyay's Socialism and Commodity Production argues the falsity of this claim. On the basis of a comprehensive study of Marx's own texts, as well as a detailed engagement with a wide variety of theorists of socialist economics, it shows that Marx's socialism constituted an "Association" of free individuals in which private ownership, the commodity, wage labor and the state have no place.
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“There are few things in the world as complicated as capitalism, and that has made it very easy for friends and foes of Marx alike to downplay or omit completely important parts of his analysis [...] Yet, the potential of capitalism to evolve into communism is scattered all over Marx's writings, early and late, and is an essential part of his thinking [...] Paresh Chattopadhyay is one of the few scholars who does justice to this dimension of Marxism, and he – and his latest work – deserve our closest attention and thanks. Highest marks!”
—Bertell Ollman, NYU
“This valuable book will surely contribute to both a revival of interest in Marx’s emancipatory ideas and the [...] impending process of revolutionary renewal.”
—George Liodakis, Capital & Class