Is socialism back? A review of contemporary economic literature

The paper deals with the recent resurgence of interest in the concept of socialism from an economic perspective. The most significant contemporary proposals for a new model of socialism are surveyed across five major thematic areas: socialism as a voluntary endeavor and socialist ethics; socialism as a process of democratization; socialism, efficiency and profit maximization; the problem of planning and the new calculation debate; and, socialism as a means versus socialism as an end. A common framework to assess the new blueprints is constructed to identify the likely directions of the research on these themes in the near future.

Automated summary

The paper examines the recent revival of interest in the concept of socialism from an economic perspective. It surveys the most significant contemporary proposals for a new model of socialism across five major thematic areas and constructs a common framework to assess these new blueprints.