This groundbreaking contribution to the comparative development literature offers a cogent analysis of social development in the economies of two vastly differing nations—one a giant nation oriented toward capitalism, the other a small country oriented toward socialism. Taking specific cases of socioeconomic development in each country, the authors build a basis for analyzing and evaluating the success of related social changes in each country. The conceptual framework developed introduces the notion of social contract and the related concepts of worker participation and community development in the corporate economy of both nations. The authors address issues such as professional elitism, changes in the role of labor, and social policies for business—comparing and contrasting the experiences of each nation. Specific cases drawn from other countries, including Israel and Yugoslavia, further describe important traits of regional and community development in modern economies.