Socialist Economic Development in the 21st Century: A Century after the Bolshevik Revolution

Over a hundred years after the first socialist revolution, a new class of socialist-oriented socioeconomic development is emerging. This book proposes an alternative path to overcoming the global crisis of globalized capitalism, offering a novel interpretation of the successes and failures of socialist economic construction throughout the last century. It applies a multidisciplinary methodology to draw lessons from stylized facts and advance theories about socialism in the 21st century. The book will appeal to academics, researchers, and policy makers in economics, political science, history, and geography.

Format: Hardback
Length: 374 pages
Publication date: 03 March 2022
Publisher: Taylor & Francis Ltd

Over a century since the initial socialist revolution challenged the global dominance of capitalism, a fresh wave of socialist-oriented socioeconomic development is emerging. While capitalism remains the dominant economic system worldwide, its unchallenged hegemony has given way to a critical existential challenge facing humanity. In response, this book presents an alternative pathway to overcome the global crisis of globalized capitalism. It offers a novel, balanced, and historically grounded interpretation of the successes and failures of socialist economic construction throughout the past century.

The authors employ a multidisciplinary, holistic, and purpose-driven methodology to extract fundamental insights from stylized facts, emerging across diverse fields of knowledge, including political economy, biology, and key national socioeconomic experiences, with a specific focus on China. The book is structured into three parts. The first section primarily takes a theoretical and general approach, identifying the significant contributions made by the hard sciences to their social counterparts. Consistent with these findings, the authors present a stylized interpretation of the current state-of-the-art in the debate on the core concepts of economic science and propose a few elementary theories about what socialism in the 21st century might entail. The second and third sections delve into the core characteristics of select experiences that have unfolded in certain countries since 1917, some of which are still ongoing.

This book will appeal to a wide audience, including academics, researchers, students specializing in economics, political science, history, and geography, as well as policymakers, particularly in developing countries. Its insights and analysis will contribute to shaping discussions and strategies for achieving sustainable and equitable socioeconomic development in the contemporary world.

Dimension: 234 x 156 (mm)
ISBN-13: 9781032212203