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SEVERAL COUNTRIES, IN EASTERN EUROPE AND ELSEWHERE, HAVE RECENTLY BEGUN THE GREATEST IDEOLOGICALLY INSPIRED EXPERIMENT SINCE THE DAYS OF STALIN. THE ECONOMIC TRANSFORMATIONS ENVISAGED IN THESE COUNTRIES IMPLEMENT AN INTELLECTUAL BLUEPRINT, A BLUEPRINT DRAWN UP WITHIN THE WALLS OF AMERICAN ACADEMIA AND SHAPED BY INTERNATIONAL FINANCIAL INSTITUTIONS. THIS ARTICLE ARGUES THAT THIS NEOLIBERAL IDEOLOGY IS NO MORE THAN A MIXTURE OF EVIDENCE, ARGUMENT FROM FIRST PRINCIPLES, SELF-INTEREST AND WISHFUL THINKING. THE AUTHOR CAUTIONS AGAINST THE DANGERS OF EXCESSIVE IDEOLOGICAL ZEAL. HE CONCLUDES LITTLE IS KNOWN ABOUT MARKETS AND DEMOCRACIES, AND WHAT LITTLE THAT IS KNOWN DOES NOT SUPPORT ANY IDEOLOGICAL BLUEPRINTS.

Discusses 4 topics: (1) the theory of individual action; (2) the ontology of collective actors; (3) the structure of class conflict; and (4) game theory as a technical apparatus. With regard to each topic, the specific challenge presented to Marxism by the rational-choice framework is identified. (AM)

JOHN ROEMER'S GENERAL THEORY OF EXPLOITATION PROVIDES AN ANALYTICAL FRAMEWORK FOR THE FUNDAMENTAL PROBLEM OF ANY THEORY OF REVOLUTION: UNDER WHAT CONDITIONS WOULD ANYONE LIVING UNDER A PARTICULAR ORGANIZATION OF SOCIETY RATIONALLY OPT FOR AN ALTERNATIVE? SPECIFICALLY, ROEMER EXPLAINS WHY WORKERS LIVING UNDER CAPITALISM SHOULD PREFER SOCIALISM. I BELIEVE THAT HIS ANSWER IS ERRONEOUS AND HIS FORMULATION INCORRECTLY SPECIFIED.

Is democracy in crisis? The current threats to democracy are not just political: they are deeply embedded in the democracies of today, in current economic, social, and cultural conditions. In Crises of Democracy, Adam Przeworski presents a panorama of the political situation throughout the world of established democracies, places it in the context of past misadventures of democratic regimes, and speculates on the prospects. Our present state of knowledge does not support facile conclusions. 'We should not believe the flood of writings that have all the answers'. Avoiding technical aspects, this book is addressed not only to professional social scientists, but to everyone concerned about the prospects of democracy.

"The political institutions under which we live today evolved from a revolutionary idea that shook the world in the second part of the eighteenth century: that a people should govern itself. Yet if we judge contemporary democracies by the ideals of self-government, equality, and liberty, we find that democracy is not what it was dreamt to be. This book addresses central issues in democratic theory by analyzing the sources of widespread dissatisfaction with democracies around the world. With attention throughout to historical and cross-national variations, the focus is on the generic limits of democracy in promoting equality, effective participation, control of governments by citizens, and liberty. The conclusion is that although some of this dissatisfaction has good reasons, some is based on an erroneous understanding of how democracy functions. Hence, although the analysis identifies the limits of democracy, it also points to directions for feasible reforms"--Provided by publisher