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Social ownership of the means of production is the defining characteristic of a socialist economy, [2] and can take the form of community ownership, [3] state ownership, common ownership, employee ownership, cooperative ownership, and citizen ownership of equity. [4]
Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity. [12] Socialism has numerous variants and so no single definition encapsulating all of them exists, [ 13 ] with its definition subject to ongoing academic scrutiny and redefining, [ 14 ] although social ownership acts as a common element shared ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 6 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 ...
There are many varieties of socialism and no single definition encapsulates all of them, [11] but social ownership is a common element shared by its various forms. [ 1 ] [ 12 ] [ 13 ] Socialists disagree about the degree to which social control or regulation of the economy is necessary, how far society should intervene, and whether government ...
The American economist James Yunker detailed a model where social ownership of the means of production is achieved the same way private ownership is achieved in modern capitalism through the shareholder system that separates management functions from ownership. Yunker posits that social ownership can be achieved by having a public body ...
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Socialism is an economic and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownership. It describes the economic , political , and social theories and movements associated with the implementation of such systems.
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