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This book is a completely rewritten version of the author's earlier Capitalism or Worker Control? (first published in 1980). Its central thesis is that, despite the collapse of communism in Eastern Europe and the break-up of the Soviet Union, capitalism cannot be justified on either economic or ethical grounds. There is in fact an alternative to capitalism that promises greater efficiency, and equality, and more rational growth, democracy and meaningful work. This alternative, Economic Democracy, is market socialism with decentralised investment planning and workplace democracy. Professor Schweickart compares this model with other models - laissez-faire conservatism, the Keynesian welfare state, and 'neo-liberalism' - and argues that it is really superior on every count. He also sketches out a possible transition from advanced capitalism, from what is left of the centrally planned economies, and from Third World underdevelopment, to Economic Democracy. The author concludes with some reflections on Marx's communism, as historical materialism, and on the future of Marxism.

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CHOICE Review

Schweickart makes a straightforward case in support of a version of market socialism built on the ideals of Yugoslavian worker-controlled industries. He begins by refuting the popular moral justifications of capitalism, then sets out to show that socialism is preferable to laissez-faire capitalism in terms of efficiency, growth, liberty, equality, and democracy. Next he examines and finds Keynesian and post-Keynesian visions of capitalism inferior to socialism. Subsequent chapters consider the transition to market socialism from advanced capitalism, command socialism, and neocolonial underdevelopment. Finally, the author turns to a critique of command socialism, technocratic market socialism, marketless participatory socialism, and Marx's vision of communism. Again, he finds evidence for the superiority of his vision of market socialism, although this section of the book is less convincing than the earlier parts. Schweickart writes well and has an excellent command of his materials. Many readers will benefit from his clear critique of markets. Upper-division undergraduates and above. M. Perelman California State University, Chico