Can we conceive of a market economy that fulfills the ideals of socialism? Here, 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of an economy in which market mechanisms retain a central role, but in which capitalist patterns of ownership have been superseded. He shows that liberal ideas of freedom, justice, and efficiency cannot be used to vindicate capitalism, and rebuts left-wing criticisms of a socialist market economy. Justifying his ideas as a workable option, he then presents a new model of the socialist state, whose central idea is that of democratic citizenship.