On the basis of a wide range of opinions expressed on modernisation in the past decade, the author presents the modernisation theory as a paradigm competing with the ideology of state socialism. He criticises the modernisation theory arguing that it was formulated according to the interests of the highly advanced region only and as such, it is nothing else but the programme of transition from state socialism to state capitalism. The author states that this theory is unable to provide a perspective today and for this reason, his final conclusion is that turning to the postmodern theories can be more fruitful also for the East European region.

The author joins those approaches which do not regard the system left behind as socialism from the point of view of formation theory but determine it as state capitalism. He depicts the analogies of this „state capitalism" in various third world economies and analyses the operation of these systems as their inner structural-power relations. He arrives at the conclusion that the present changes leave the state capitalist structures untouched and this way, it is impossible to break out from the mistaken circles of the „third world". The author sees the solution in a mixed economy kept in balance with antimonopoly measures which is characterised by private property of small enterprises as well as workers' ownership of large companies.

Democracy for the Third World is likely to become a flag for continued exploitation and oppression of the South by the North, for as long as lack of democracy remains for the world economy as a whole, political democracy in any part of the world can be of limited scope at best. A realistic prospect is the growing threat to countries, regions and peoples to be marginalized. A dual economy and society on a global scale seems now to be in the process of formation in the world system. The present day changes in Eastern Europe through which its people aspire to join the "First" World now also threaten instead to place them to the Third one. The problem cannot be solved by the finally sure fire snake oil remedies that are being ideologically sold and bought, i.e. privatisation and political democracy.

During the burial of the planned economy, the American author speaks out in favour of some of its advantages seeing in them a form of mixed economy of the future.

The founder of our journal's predecessor who lives in Britain analyses the nature of capitalism giving a detailed and many-sided picture of the importance of militarism in the system of capital stabilising the economy and the system.