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Characteristics. A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit (and therefore indirectly for use). "Production under socialism would be directly and solely for use.
Neither 1953 constitutional declaration, 1956 Egyptian Constitution [ 73] nor the Provisional Constitution of the United Arab Republic [ 74] used the word 'socialist' or 'socialism', but the sole legal parties – the Liberation Rally and the National Union – were socialist. United Arab Republic. 22 February 1958.
e. Socialism is an economic and political philosophy encompassing diverse economic and social systems [ 1] characterised by social ownership of the means of production, [ 2] as opposed to private ownership. [ 3][ 4][ 5] It describes the economic, political, and social theories and movements associated with the implementation of such systems. [ 6]
e. A socialist state, socialist republic, or socialist country, sometimes referred to as a workers' state or workers' republic, is a sovereign state constitutionally dedicated to the establishment of socialism. The term communist state is often used synonymously in the West, specifically when referring to one-party socialist states governed by ...
Pancasila economics ( Indonesian: Ekonomi Pancasila ), also known as " Indonesian populist economics " ( Indonesian: Ekonomi kerakyatan Indonesia ), is an economic system which aims to reflect the five principles of Pancasila. [1] The term "Pancasila economy" first appeared in an article by Emil Salim in 1967. [2]
Cooperative economics developed as both a theory and a concrete alternative to industrial capitalism in the late 1700s and early 1800s. As such, it was a form of stateless socialism. The term socialism, in fact, was coined in The Cooperative Magazine in 1827.[ 2] Such socialisms arose in response to the negative effects of industrialism, where ...
Liberal socialism is a political philosophy that incorporates liberal principles to socialism. [ 1] This synthesis sees liberalism as the political theory that takes the inner freedom of the human spirit as a given and adopts liberty as the goal, means and rule of shared human life. Socialism is seen as the method to realize this recognition of ...
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.