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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]
Democratic socialism is a broad political movement that seeks to propagate the ideals of socialism within the context of a democratic system, as was done by Western social democrats, who popularized democratic socialism as a label to criticize the perceived authoritarian or non-democratic socialist development in the East, during the 19th and ...
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 ...
[1] [2] [failed verification] The dictatorship of the proletariat is the transitional phase from a capitalist to a communist economy, whereby the post-revolutionary state seizes the means of production, mandates the implementation of direct elections on behalf of and within the confines of the ruling proletarian state party, and institutes ...
Critical of the economy and government of socialist states, left communists such as the Italian Amadeo Bordiga said that their socialism was a form of political opportunism which preserved rather than destroyed capitalism because of the claim that the exchange of commodities would occur under socialism; the use of popular front organisations by ...
Socialism has been described as a philosophy seeking distributive justice, and communism as a subset of socialism that prefers economic equality as its form of distributive justice. [77] In 19th century Europe, the use of the terms communism and socialism eventually accorded with the cultural attitude of adherents and opponents towards religion.
It is a world-economy and it is by definition capitalist in form. Socialism involves the creation of a new kind of world-system, neither a redistributive world-empire nor a capitalist world-economy but a socialist world-government. I don't see this projection as being in the least utopian but I also don't feel its institution is imminent.
This is the socialism of the labor, social-democratic, and socialist parties of Western Europe." [14] Economist and political theorist Kenneth Arrow argued: "We cannot be sure that the principles of democracy and socialism are compatible until we can observe a viable society following both principles. But there is no convincing evidence or ...