This book revolves around the idea that capitalism is not a democratic system and that a system of producer cooperatives, or democratically managed enterprises, gives rise to a new mode of production which is authentically socialist in essence and fully consistent with the ultimate rationale underlying Marx's theoretical approach. The author argues that the cooperative firm system outlined in this book offers a rich array of non-economic benefits that justify its classification as a 'genuinely socialist' entity, with real potential for achieving true economic democracy.

This book will be required reading for all economists who are not content with the current capitalist economic system, and yet will still provide intriguing and thought-provoking insights for those who are.