MACPHERSON,C.B. CRITIQUE OF LIBERAL DEMOCRACY AND CAPITALISM

C. B. Macpherson's project was to revise liberal-democratic theory in the light of Marxism, to rescue the valuable part of the liberal tradi tion from the dangers of capitalist market relations, and to democrati ze socialism. I identify Macpherson's concept of political theory, whi ch informs his project; reconstruct his criticisms of liberal democrat ic theory and capitalist market relations; and note his prescriptions for a better political theory and practice. The project remains signif icant and valuable in a world in which political and economic liberali sm is said to be triumphant and socialism dead or in retreat. It is no t without its problems, however, which include an inadequate theory of human nature and a lack of detail on the nature of a democratic socia list society.