Evgeny A. Preobrazhensky was Russia's foremost economist in the 1920s. This volume editorially reconstructs his theory of socialist industrialisation in an agrarian country and relates it to previous socialist theories and to issues of political struggle, culture and communist morality. The editors create a unique portrait of Preobrazhensky as an economist and social theorist, assess the viability of NEP as a model of economic growth, and identify the fault lines that contributed to the split in the Trotskyist Opposition and its defeat in the struggle against Stalin.

The bulk of the work included in this volume consists of the important An Attempt to Provide a Theoretical Analysis of the Soviet Economy, while the material in Volume III focuses on concrete analysis.