Abstract
Whilst the so-called ‘new right’ shrilly proclaims victory for capitalism and liberal democracy in the cold war, quieter voices see in the death agonies of European Stalinism the seeds of socialism more as it was meant to be. I refer not any triumphal Trotskyist depiction of the popular overthrow of bureaucratised ruling classes, but rather to wide-spread searchings throughout Eastern Europe for ‘a third – and better – way’. From this perspective, however much the electoral thaw may give rise to stridently anti-communist, anti-central planning, pro free-market parties, the dynamics of the new situation will virtually require pursuit of a mixed economy featuring selective state intervention.

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