Abstract

How is one to set about the task of comparing capitalism and socialism in a systematic fashion? The contest between capitalism and socialism has many facets. It is both an intellectual debate about the relative merits of models of hypothetical social systems and a real and substantive historical struggle between two groups of states seen as representing capitalism and socialism. Perhaps the intellectual challenge to capitalism thrown down by Marxist thinkers and the “cold war” contest between the U.S.A. and U.S.S.R. are such diverse phenomena that it is pointless and even misleading to try to treat them as part of a single problem. However, I believe that the dieoretical and historical aspects of the capitalism/socialism issue are directly related. I would argue that a full understanding of, say, the cold war is not possible without understanding the socialist critique of capitalism – and that a purely abstract comparison of capitalist and socialist models would fail to do justice to the historical and empirical essence of these two grand conceptual schemas. In Section I, I expand upon these arguments, seeking to convince Utopian socialists that they should not continue to rely upon invocations of a hypothetical future, but must come up with some empirical examples of what socialism is and how it works. After all, it is more than a hundred years since Marx and Engels railed against Utopian socialists in favor of socialist arguments based on empirical reality. This is not to say that Marx and Engels were crude empiricists, accepting “facts” at face value