Search results
Results from the WOW.Com Content Network
Socialism – range of economic and social systems characterised by social ownership of the means of production and workers' self-management [10] as well as the political theories and movements associated with them. [11] Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity. [12]
This is an accepted version of this page This is the latest accepted revision, reviewed on 16 January 2025. Political philosophy emphasising social ownership of production For other uses, see Socialism (disambiguation). Part of a series on Socialism History Outline Development French Revolution Revolutions of 1848 Socialist calculation debate Socialist economics Ideas Calculation in kind ...
Other socialist theories, such as mutualism and market socialism, attempt to apply the labor theory of value to socialism, so that the price of a good or service is adjusted to equal the amount of labor time expended in its production. The labor-time expended by each worker would correspond to labor credits, which would be used as a currency to ...
In Marxist theory, socialism refers to a specific stage of social and economic development that will displace capitalism, characterized by coordinated production, public or cooperative ownership of capital, diminishing class conflict and inequalities that spawn from such and the end of wage-labor with a method of compensation based on the ...
The Marxist view of socialism served as a point of reference during the socialist calculation debate. Marx himself did not use the term socialism to refer to this development. Instead, Marx called it a communist society that has not yet reached its higher-stage. [8] The term socialism was popularized during the Russian Revolution by Vladimir ...
While the use of the term socialism was initially adopted to describe the philosophy of the Saint-Simonians, which advocated the socialized ownership of the means of production, the term was quickly appropriated by working class movements in the 1840s, and in the 19th century the term socialism came to encompass a wide and diverse range of ...
The theory focused mainly on developing the productive forces and took a highly economic deterministic view on developing socialism. [18] Despite certain pitfalls, the theory is still used to explain the use of capitalist techniques in China. [18] The main aim of the theory was to reconceptualize socialism to make Marxism fit for contemporary ...
Bakunin predicted that Marx's theory of the transition from capitalism to socialism involving the working class seizing state power in a dictatorship of the proletariat would eventually lead to a usurpation of power by the state apparatus acting in its self-interest, ushering in a new form of capitalism rather than establishing socialism.