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Socialism for Today: Escaping the Cruelties of Capitalism
Capitalism is failing us. Instead of bringing a decent life for the majority, it generates an outrageous gap between the rich and the rest, unaffordable housing, a profit-driven healthcare system, skyrocketing educational debt, racial and gender inequality, and the threat of climate disaster. Economist David Kotz argues that it’s time we built a new socialism for the unique challenges of the twenty-first century.
The problems of capitalism are too profound for reform, Kotz writes. Reform can help, but only temporarily, and not for all. Nor can we turn back to the socialist experiments of the twentieth century. But we can learn from those experiments, both their successes and failures, to build a democratic and participatory economic and political system. The result would be a sustainable future of economic justice, equality, material comfort, human development, and meaningful freedom. The journey towards a new socialism may be difficult. But Kotz combines a clear and rigorous account of how socialism can be made to work with a realistic strategy for how to get there. This is the book we need to help us escape the cruelties of our capitalist present.
The problems of capitalism are too profound for reform, Kotz writes. Reform can help, but only temporarily, and not for all. Nor can we turn back to the socialist experiments of the twentieth century. But we can learn from those experiments, both their successes and failures, to build a democratic and participatory economic and political system. The result would be a sustainable future of economic justice, equality, material comfort, human development, and meaningful freedom. The journey towards a new socialism may be difficult. But Kotz combines a clear and rigorous account of how socialism can be made to work with a realistic strategy for how to get there. This is the book we need to help us escape the cruelties of our capitalist present.
- GenresPolitics
208 pages, Hardcover
Published April 22, 2025
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About the author
David M. Kotz
8 books8 followersDavid M. Kotz is Professor of Economics at the University of Massachusetts, Amherst, and Distinguished Professor, School of Economics, Shanghai University of Finance and Economics.
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January 29, 2026
A solid book. This is an accessible introduction to capitalism and socialism for those who are interested in the socialist movement, but who are not necessarily well versed in economics. Despite its apparent simplicity, the book also turns out to be a valuable contribution to the debate over whether the system replacing capitalism should be a form of market socialism (to which some advocates have given the name "Economic Democracy") or a democratically planned economy (not to be confused with the Soviet-style highly centralized system of planning).
I thought the book was a good refresher as someone who habitually reads about these kinds of things, but there were two parts that I particularly liked. The first one is the appendix to Chapter 4 ("Lessons from the Past for a Socialist Future") -- one of the few parts of the book laden with technical economic terminology -- which I thought gave a rather convincing argument as to why simply adopting market socialism may not be enough. The second is the latter half of the final chapter, which explains how the "above-and-below" strategy (which combines pursuing the electoral road with organizing in the workplace & community) for socialist organizing may be the most effective in high-income, industrialized capitalist states.
I thought the book was a good refresher as someone who habitually reads about these kinds of things, but there were two parts that I particularly liked. The first one is the appendix to Chapter 4 ("Lessons from the Past for a Socialist Future") -- one of the few parts of the book laden with technical economic terminology -- which I thought gave a rather convincing argument as to why simply adopting market socialism may not be enough. The second is the latter half of the final chapter, which explains how the "above-and-below" strategy (which combines pursuing the electoral road with organizing in the workplace & community) for socialist organizing may be the most effective in high-income, industrialized capitalist states.
Displaying 1 of 1 review