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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 ...
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 ...
Following the October Revolution in Russia, the Bolsheviks consolidated their power and sought to control and direct the social and economic affairs of the state and broader Russian society to safeguard against counterrevolutionary insurrection, foreign invasion, and to promote socialist consciousness among the Russian population while ...
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 ...
A semi-presidential republic is a government system with power divided between a president as head of state and a prime minister as head of government, used in countries like France, Portugal, and Egypt. The president, elected by the people, symbolizes national unity and foreign policy while the prime minister is appointed by the president or ...
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]
Rawls promotes the property-owning democracy above four alternative institutions: laissez-faire capitalism, welfare-state capitalism, state socialism with a command economy and liberal socialism. [3] This ranking is determined in accordance with Rawls' two principles of justice prescribed in A Theory of Justice (1971), which has been widely ...
Trotsky's theory also argues that the bourgeoisie in late-developing capitalist countries are incapable of developing the productive forces in such a manner as to achieve the sort of advanced capitalism which will fully develop an industrial proletariat; and that the proletariat can and must therefore seize social, economic and political power ...