I undertake three tasks in this exploratory essay. First, I examine some of the lessons of recent history concerning the relation between socialism, markets, and liberal democracy. Second, I lay out the basic theoretical building-blocks of an alternative to both socialism and laissez-faire that I call “mutualism.” Finally, I draw some conclusions for public policy and practice, in the form of what I call a “progressive market strategy.” A brief conclusion ponders the question, What's left of socialism?