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When Socialism Comes One Country at a Time

Author

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  • Robin Eric Hahnel

Abstract

What should a country that has rejected capitalism and is beginning to build a socialist economy do with regard to international trade and investment in today’s world where other countries still have capitalist economies, and there are very large differences in levels of economic development? Hoping to stimulate discussion, this article explores dilemmas such a country will face, and proposes concrete answers in the form of rules such a country might follow to (a) take advantage of opportunities that international trade and investment provide but (b) avoid undermining fundamental principles that are the backbone of its socialist economy. JEL Classification : F10, F13, F21, P21, P23

Suggested Citation

  • Robin Eric Hahnel, 2022. "When Socialism Comes One Country at a Time," Review of Radical Political Economics, Union for Radical Political Economics, vol. 54(4), pages 568-583, December.
    • Handle: RePEc:sae:reorpe:v:54:y:2022:i:4:p:568-583
    DOI: 10.1177/04866134221094069
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    More about this item

    Keywords

    international trade; socialism; international finance;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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