The End of Socialism [Paperback]

The End of Socialism explores the difficulties socialism faces and examines the extent to which its moral ideals can guide policy.The troubled history of socialism has led many to believe the case is now closed: socialism does not work. Yet many also believe that the moral values socialism champions  equality, fairness, and community  make it superior to capitalism; and thus they conclude that even if we must accept capitalism's ability to allocate resources efficiently, we should also draw on socialism's moral values to correct capitalism's excesses and failings. The End of Socialism explores the exact nature of the practical difficulties socialism faces and then examines the extent to which its moral ideals can, or should, guide policy nonetheless.The troubled history of socialism has led many to believe the case is now closed: socialism does not work. Yet many also believe that the moral values socialism champions  equality, fairness, and community  make it superior to capitalism; and thus they conclude that even if we must accept capitalism's ability to allocate resources efficiently, we should also draw on socialism's moral values to correct capitalism's excesses and failings. The End of Socialism explores the exact nature of the practical difficulties socialism faces and then examines the extent to which its moral ideals can, or should, guide policy nonetheless.Is socialism morally superior to other systems of political economy, even if it faces practical difficulties? In The End of Socialism, James R. Otteson explores socialism as a system of political economy  that is, from the perspectives of both moral philosophy and economic theory. He examines the exact nature of the practical difficulties socialism faces, which turn out to be greater than one might initially suppose, and then asks whether the moral ideals it champions  equality, fairness, and community  are important enough to warrant attempts to overcome these difficulties nonetheless, especialC×