Underdevelopment and the Transition to Socialism: Mozambique and Tanzania evaluates the promise and problems of socialism in the Third World by considering the political economies of Mozambique and Tanzania. The aim is to provide a basic account, for Marxists and non-Marxists alike, interested in alternative strategies of development in the Third World. It offers a materialist political economy approach that should be useful to an interdisciplinary group of scholars and practitioners. The book is organized into four parts. Part I maps out purposes and procedures. Part II on Mozambique is a factually grounded analysis of an initial conjuncture in the transition to socialism—the capture of state power by workers and peasants. Part III on Tanzania focuses on another vital step on the way to socialism—the nationalization of leading financial institutions and the attempt to place them under the aegis of the immediate producers. Part IV knits together the main strands of the foregoing analysis and ties them to the broad themes discussed at the beginning of this book.