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A New Model of Socialism

Democratising Economic Production Bruno Jossa, Professor of Political Economy, University ‘Federico II’ of Naples, Italy
A New Model of Socialism focuses on the current crisis of the political Left, a result of the collapse of the Soviet model of society and the decline of statism and kingship. Bruno Jossa expands on existing theories to explore Marx’s notions on economic democracy in a modern setting. He advocates a move away from the centralised planning form of economic socialism towards a self-management system for firms that does not prioritise the interests of one class over another, in order to achieve greater economic democracy. It is argued that the establishment of such a system of democratic firms is the precondition for reducing intervention in the economy, thus enabling the State to perform its ultimate function of serving the public interest.
Extent: c 288 pp
Hardback Price: $135.00 Web: $121.50
Publication Date: April 2018
ISBN: 978 1 78811 782 1
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  • eISBN: 978 1 78811 783 8

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Economic democracy is essential for creating a truly democratic political sphere. This engaging book uses Marxist theory to hypothesise that capitalism is not a democratic system, and that a modern socialist system of producer cooperatives and democratically managed enterprises is urgently needed.

A New Model of Socialism focuses on the current crisis of the political Left, a result of the collapse of the Soviet model of society and the decline of statism and kingship. Bruno Jossa expands on existing theories to explore Marx’s notions on economic democracy in a modern setting. He advocates a move away from the centralised planning form of economic socialism towards a self-management system for firms that does not prioritise the interests of one class over another, in order to achieve greater economic democracy. It is argued that the establishment of such a system of democratic firms is the precondition for reducing intervention in the economy, thus enabling the State to perform its ultimate function of serving the public interest.

This timely book is ideal for advanced scholars of Marxist, radical and heterodox economic theory, as well as academics with an interest in the rise of socialism in our modern world. Indeed, it will also be of value to all those seeking a viable and practical alternative to existing capitalist and socialist thinking.
‘Deeply suggestive and intellectually challenging, Jossa's book proposes the market socialism model as a viable solution to the shortcomings of present day global capitalism. From the premise that socialism can be established by peaceful means and with non centralized planning, the author shows how by democratizing the economic sphere by means of a system of labour-managed enterprises, it is possible to enhance a vibrant political democracy. Jossa's arguments are powerful and should interest anybody seriously involved in the wealth and health of nations.’
– Stefano Zamagni, University of Bologna and Johns Hopkins University, Italy

‘A well researched and well argued book that presents a refined analysis of some difficult issues on socialism and industrial democracy. By taking advantage of the research developed by various important economists on the labour-managed firms, and revising Marxism in the light of this literature, Bruno Jossa offers us a reasonable and appealing proposal about how to construct a post-capitalist society capable of rescuing contemporary societies from the stranglehold of globalized capitalism.’
– Ernesto Screpanti, University of Siena, Italy
Contents: 1. Production Modes, Marx’s Method and the Feasible Revolution 2. The Coopererative Firm as an Alternative to the Capital-owned Business Enterprise 3. A Few Advantages of Economic Democracy 4. Marx, Marxism and the Cooperative Movement 5. Recent Criticisms of the Labour Theory off Value: The Democratic Firm and Marxism 6. Further Reflections on Links between Marxism and Producer Cooperatives 7. Some Critics Of Labour Management 8. The Labour-managed Firm and Socialism 9. The Evolution of Socialism from Utopia to Scientific Producer Cooperative Economics 10. The Democratic Firm in the Estimation of Intellectuals 11. An Involuntary Antagonist of History and Progress Index