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Tractor factory in the Soviet Union in 1972

Crisis of Socialism and Effects of Capitalist Restoration

This article will be released in full online April 13, 2020.

The main criticism leveled at the socialist economies was that a planned economy was inherently less efficient than a market one, due to the sheer scale of the bureaucratic task involved with planning a major economy. But the collapse of the Soviet and later the Russian economy under Mikhail Gorbachev and then Boris Yeltsin was an economic disaster that was otherwise unprecedented during times of peace. The world’s second superpower was reduced to the status of a minor bankrupt economy with a huge decline in industrial production and in living standards. | more…

How the World Works: The Story of Human Labor from Prehistory to the Modern Day

Few authors are able to write cogently in both the scientific and the economic spheres. Even fewer possess the intellectual scope needed to address science and economics at a macro as well as a micro level. But Paul Cockshott, using the dual lenses of Marxist economics and technological advance, has managed to pull off a stunningly acute critical perspective of human history, from pre-agricultural societies to the present. In How the World Works, Cockshott connects scientific, economic, and societal strands to produce a sweeping and detailed work of historical analysis. This book will astound readers of all backgrounds and ages; it will also will engage scholars of history, science, and economics for years to come. | more…