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What is the best way to organize an economy to satisfy demands for efficiency, compassion and freedom? These political, economic, social and philosophical concerns underpin what has been the most important issue of the twentieth-century, that of the relationship between market and plan.

Markets and Socialism consists of extracts drawn from the most important contributors to the debate started by Karl Marx. In six thematic sections the reader can follow the vicissitudes of the non-market, market and mixed market models. The range of countries and historical sweep covered in this volume are impressive: from the 'socialist calculation' debate to the experiences of Russia, East-Central Europe, Sweden, America and China. A combination of theoretical analyses and practical case studies makes this volume essential reading for teachers, students and anyone interested in a clear and concise introduction to the central dilemma of our times.