This volume, dealing with the situation in the world (particularly in the third and first world parts of it) following the collapse and disappearance of the Soviet Union, is essentially a theoretical exercise focused on the question of socialism in our times. The issues dealt with include socialism in one country, the worldsystem theory, post-colonial national projects, the current long-term crisis of capitalism (a depressed continuum Mesros has called it), globalisation, welfare capitalism, the role of the state, the necessity and possibility of a socialist transcendence of capitalism, etc. There is a detailed discussion of globalisation, both as a response to the current crisis of capitalism and as a concept that has come up to present the international expansion and domination of capitalism in a favorable light, an alternative to Marxist vocabulary with its concepts of capitalism, imperialism, etc. This volume, dealing with the situation in the world (particularly in the third and first world parts of it) following the collapse and disappearance of the Soviet Union, is essentially a theoretical exercise focused on the question of socialism in our times. The issues dealt with include socialism in one country, the worldsystem theory, post-colonial national projects, the current long-term crisis of capitalism (a depressed continuum Mesros has called it), globalisation, welfare capitalism, the role of the state, the necessity and possibility of a socialist transcendence of capitalism, etc. There is a detailed discussion of globalisation, both as a response to the current crisis of capitalism and as a concept that has come up to present the international expansion and domination of capitalism in a favorable light, an alternative to Marxist vocabulary with its concepts of capitalism, imperialism, etc.