1st Edition

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

By Alberto Gabriele, Elias Jabbour Copyright 2022
    394 Pages 48 B/W Illustrations
    by Routledge

    394 Pages 48 B/W Illustrations
    by Routledge

    Over a hundred years after the first socialist revolution broke the global monopoly of capitalism, a new class of socialist-oriented socioeconomic development is coming to the fore. Capitalism is still dominant worldwide, although its hegemony is no longer undisputed, and humankind is now faced with a key existential challenge. This book proposes an alternative path to overcoming the worldwide crisis of globalized capitalism. It offers a novel, balanced and historically rooted interpretation of the successes and failures of socialist economic construction throughout the last century.

    The authors apply a multidisciplinary, holistic and purpose-based methodology to draw basic lessons from stylized facts, emerging in different areas of knowledge, ranging from political economy to biology, and from key national socioeconomic experiences, with a particular focus on China. The book is divided into three parts. The first is mainly theoretical and general in nature, identifying the major contributions bequeathed by the hard sciences to their social counterparts. Consistent with these findings, the authors offer a stylized interpretation of the contemporary state-of-the-art of the debate on the core concepts of economic science and advance a few elementary theories about what socialism in the 21st century could look like. The second and third parts analyze and discusses the core features of a few select experiences, which have evolved in certain countries since 1917, some of which are still unfolding.

    The book will find an audience among academics, researchers and students in the fields of economics, political science, history, and geography, as well as, policy makers, particularly in developing countries.

    Foreword by Francesco Schettino
    Part I: Capitalism and Socialism as Modes of Production
    1. Introduction to Part I
    2. The hard scientific underpinnings of XXIth century political economy
    3. Modes of production and socioeconomic formations
    4. Labor and value
    5. Real competition, pending issues and the core propositions of the surplus approach
    6. Real socialism and the law of value
    7. The Meta-Mode of Production
    8. Socialism under the Meta Mode of Production
    Part II: China’s journey from the early agricultural reforms to the New Projectment Economy
    9. Introduction To Part II
    10. Macroeconomic Dynamics
    11. Rural reforms and the rise of  Non-Capitalist Market-Oriented Enterprises
    12. The Large State-Owned Business Conglomerates
    13. The National Financial System And The Strengthening of China’s Monetary Sovereignty
    14. The dynamics of the new economic and social formation
    15. NDRC and SASAC: a quantum leap in China’s planning and governance capabilities
    16. The New Projectment Economy
    Part III: The other two members of the new class of SEF: Vietnam and Laos
    17. Introduction to part III
    18. Agricultural reforms and the launching of Doi Moi
    19. Equitization
    20. SOE, FDI, and simple commodity production
    21. Employment, wages, and productivity
    22. Accumulation, growth, and structural change
    23. Finance
    24. Development of productive forces and modernization in Vietnam and China
    25. Poverty, inequality and human development
    26. The differences between comrades Masina and Cerimele and us
    27. Vietnam and China: brothers, not twins
    28. Laos: the least developed member of the new class of SEFs
    29. Concluding Remarks






    Alberto Gabriele is a Senior Researcher at Sbilanciamoci, Rome, Italy.

    Elias Jabbour is an Assistant Professor at the School of Economics, at Rio de Janeiro State University, Brazil.