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Modern uses of the term socialism are wide in meaning and interpretation. Because a sovereign state is a different entity from the political party that governs that state at any given time, a country may be ruled by a socialist party without the country itself claiming to be socialist or the socialist party being written into the constitution.
Moldova is the fastest growing economy in Europe, but is also one of Europe's poorest countries, with the lowest GDP (nominal) per capita of any European state. Monaco has the highest GDP (nominal) per capita of any European state. Russia is the largest transcontinental European economy and will remain so until at least 2030.
A unique "European social model" is described in contrast with the social model existing in the US. Although each European country has its own singularities, four traditional welfare or social models are identified in Europe, [12] [13] [14] as well as possible fifth one to cover formerly communist Central and Eastern Europe: [15]
In this article, we take a look at 15 socialist countries that have succeeded. You can skip our detailed analysis about state of socialism, and go directly to the 5 Socialist Countries that Have ...
Although the emergence of the Soviet Union as the world's first socialist state led to widespread association of socialism with the Soviet economic model, it has since shifted in favour of democratic socialism. Academics recognised the mixed economies of several Western European and Nordic countries as "democratic socialist".
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.
One issue is that social democracy is equated with wealthy countries in the Western world, especially in Northern and Western Europe, while democratic socialism is conflated either with the pink tide in Latin America, especially with Venezuela, [162] or with communism in the form of Marxist–Leninist socialism as practised in the Soviet Union ...
Norway is the only major economy in the north of Europe where younger generations are getting richer, with a 13% increase in disposable income income for 2018, bucking the trend seen in other european-northern nations of Millennials becoming poorer than the generations which came before. [54]