Requiem for Communism: The Case of Hungary

Attempts to specify and to explicate some of the most important reasons for the failure of communism or state socialism. Analyses the general case of Eastern Europe, then applies the analysis to the specific case of Hungary. Second, deduces a model of market socialism from the theories of Fred M. Taylor and Oskar Lange. Argues that the Taylor‐Lange model of market socialism certainly could be and probably would be a completely valid and viable economic system. Proposes, moreover, that this system of market socialism may prove a better alternative economic system than capitalism for the Eastern European nations that have abandoned communism.