Tugan-Baranovskii's vision of an international socialist economy

Abstract

This article examines a hitherto neglected book published in 1918 by M. I. Tugan-Baranovskii, which is devoted to outlining his vision of an international socialist economy. It focuses on Tugan's approach to economic planning, money and prices in socialism, and the new international economic order. It is shown that Tugan attempted to assimilate marginalism into his vision of planning, and was more flexible than the Bolsheviks in adapting socialist economics to the task at hand. The reception of Tugan's approach is also briefly sketched, as is the context of the socialist calculation debate.