people. The great debate between capitalism and socialism, the debate that so...

people. The great debate between capitalism and socialism, the debate that so many {Francis Fukuyama, Robert L. Heilbroner, and others} had declared finally resolved in capitalism's favor by the 1990s, turns out to have been a debate between private and state capitalism. Within actually existing socialist states there have been greater and lesser movements back toward private capitalism over the last half-century. Many social reforms achieved as part of the movements toward socialism after 1917 proved temporary and subject to erosion or reversal. Especially after the 1980s, socialized property in the means of production reverted to private property. Planning apparatuses gave way to market mechanisms of distribution. Relatively more economic and social equality returned to greater inequality. To the millions who struggled for socialism and communism over the last 150 years, who believed them to be embodiments of a more egalitarian and democratic social order, the last several decades of movement back toward private capitalism have been deeply

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