Can we conceive of a market economy that fulfils the ideals of socialism? In this book, David Miller provides a comprehensive examination, from the standpoint of political theory, of an economy in which market mechanisms retain a central role, but in which capitalist patterns of ownership have been superseded.In Part I, Dr Miller shows that liberal ideas of freedom, justice, and efficiency cannot be used to vindicate laissez faire capitalism. In Part II, he rebuts left-wing criticisms of a socialist market economy. Part III presents a new model of the socialist state, whose central idea is that of democratic citizenship.Dr Miller's book provides a clear and coherent statement of the theoretical basis of market socialism and justifies it as a viable political option. The principles the author develops represent a radical alternative both to the libertarian ideas of the New Right and to the statist ideas of traditional socialism.