Socialism and Commodity Production

Chattopadhyay convincingly shows that Marx’s conception of socialism bears little resemblance to the single-party states often termed “socialist.” “Socialism” is a word that is now habitually taken to refer to a particular social system that prevailed in different parts of the globe during the twentieth century. This system was defined primarily by single-party rule with public (mainly state) ownership of the means of production along with a centrally planned economy. Its material base was generalised commodity production. The spokespersons of this system claim that this socialism was derived from Marx. Chattopadhyay argues the falsity of this claim. On the basis of a comprehensive study of Marx’s own texts, as well as a detailed engagement with a wide variety of theorists of socialist economics, it shows that Marx’s socialism constituted an “Association” of free individuals in which private ownership, the commodity, wage labor and the state have no place.