The living classic of American socialism looks back on the last half a century of the left-wing theory and political movement. He presents an analysis of the consequences of the cold war in East and West, claiming that the outcome of the arms race was not doubtful for a second. According to Sweezy, the world society returned to a stage similar to the 1930s with the fall of state socialist regimes, and therefore it is the most urgent task to look for alternatives, by undertaking and renewing the legacy of socialism.