In This Review

The Economics of Feasible Socialism
The Economics of Feasible Socialism
By Alec Nove
Allen & Unwin, 1983, 244 pp

What kind of socialism seems feasible to a veteran expert on the economies of the Soviet Union and Eastern Europe, a British subject who has lived through several Labour governments, and a learned student of Marxism in all its divergencies? It would be a mixed economy, with some large and some small enterprises, some self-managed and others hierarchical, much competition, specialization in international trade, and profits that are truly earned and not appropriated from others. The democracy that is basic to his prescription will shift the boundaries among all these features from time to time. But one wonders if it will also stick to the principles of organization, efficiency and egalitarianism he argues for so well in this engaging book.