Ellen Meiksins Wood argues that with the collapse of Communism the
theoretical project of Marxism and its critique of capitalism is more
timely and important than ever. In this book she sets out to renew the
critical program of historical materialism by redefining its basic
concepts and its theory of history in original and imaginative ways,
using them to identify the specificity of capitalism as a system of
social relations and political power. She goes on to explore the concept
of democracy in both the ancient and modern world, examining the
concept's relation to capitalism.