Critique has recently published the translation of an article by Ernest Mandel, in which he develops his now familiar theme that, in the course of social evolution, there intervenes – and must intervene – between capitalism and socialism a transitional “society” with its own social base, relations of production, etc. This is a point of view worth discussing but, despite the Marxist terminology in which it is expressed, it is in fact not a view held by Marx himself. As the present article will try to demonstrate, Marx did indeed speak of a “political transition period” between capitalism and socialism but never of a “transitional society”.