Political Economy for Socialism
A reconsideration of socialism in the post-Soviet era based on the theoretical achievements of Japanese Marxist political economy. The origins and the various components of the broad current of socialist thought, as well as the implications of Marx's econ
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Also by Makoto Itoh
TilE BASIC TIIEORY OF CAPITALISM TilE VALUE CONTROVERSY (co-author with I. Steedman and others) TilE WORLD ECONOMIC CRISIS AND JAPANESE CAPITALISM VALUE AND CRISIS
Political Economy for Socialism Makoto ltoh
Professor of Economics University of Tokyo
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St. Martin's Press
© Makoto ltoh 1995
All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published in Great Britain 1995 by MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-0-333-55338-1 ISBN 978-1-349-24018-0 (eBook) DOI 10.1007/978-1-349-24018-0
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First published in the United States of America 1995 by Scholarly and Reference Division, ST. MARTIN'S PRESS, INC., 175 Fifth A venue, New York, N.Y. 10010 ISBN 978-0-312-12564-6 Library of Congress Cataloging-in-Publication Data ltoh, Makoto, 1936-Political economy for socialism I Makoto Itoh. p. em. Includes bibliographical references and index. ISBN 978-0-312-12564-6 I. Socialism. 2. Communism. I. Title. HX36.I85 1995 335-dc20 94--46182 CIP
Contents Preface Introduction: Socialism at Stake
PART I
vii xiii
IDEAS
1 Origins of Socialism Formation of various concepts of socialism Communist ideas as natural right Utopian socialism
3 3 7 10
2 Modern Socialism Owenism Fabianism Marxism
18 18 20 22
PART II
THEORIES
3 Marx's Socialism Historical materialism Socialism in The Communist Manifesto The labour theory of value and socialism On the division of labour The functions of surplus labour How to secure dynamic flexibility Conclusion 4 Market Economy and Socialism Theoretical critiques of a socialist economy Theoretical defences of the rationality of a socialist economy Arguments for market socialism The Recent debates on the market and socialism Multiplicity of the models of a socialist economy
v
31 33 38 44 57 62 77 81 83 83 93 105 117 128
vi
Contents
PART III
REALITIES
5 The Nature of the Soviet Type of Society Anomalies in the Soviet order Marxist critiques: the real nature of the Soviet type of w~ti~
Arguments for reforms and the future of socialism
143 143 1~
153
6 Achievements and Crisis The Soviet type of planned economy The basic conditions for growth Stagnation and crisis
160 160 164 166
7 The Reforms and Systemic Change Perestroika and the Russian tragedy Eastern European revolutions and systemic chang
