Download or read book Is Socialism Feasible? written by Geoffrey M. Hodgson and published by Edward Elgar Publishing. This book was released on 2019 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: After being proclaimed dead, there is now a major revival of socialism ideology in the West. But what does socialism mean? This book shows that it is irretrievably associated with common ownership. The twentieth-century experience of comprehensive national planning with state ownership has been disastrous, and in no case has democracy endured within large-scale socialism. This volume explains why. The alternative socialist option of worker-owned cooperatives must accept a major role for markets that many socialists reject. Further experiments in that direction must be subordinate to higher principles of liberal solidarity, involving a mixed market economy with a welfare state.