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.

A most interesting debate around the theoretical questions of labour organisation was carried out by Stephen Margin and David Landes. The arguments revolved around the question whether the factory system emerged because of technological necessity or becaue of the hierarchical relations favoured by capitalists. Based on the comparison of the two articles, the author draws some topical conclusions as well.

Who knows what the differences are between the second economy of the former state socialist economy, the informal sector of the Western market systems and the hidden economy in contemporary Estern Europe? Would anyone prefer to use the phrase shadow economy? Two young economists sort out in this article.