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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]
This is an accepted version of this page This is the latest accepted revision, reviewed on 19 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 ...
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 ...
Modern social democracy seeks to contain capitalism through transitioning unstable private sector enterprises into public ownership, correcting economic and social inequality through social safety nets and services, sometimes referred to as welfare state policies, and more aggressive regulation of markets and private enterprise than other forms ...
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 ...
Common ownership in a hypothetical communist society is often distinguished from primitive communism, in that communist common ownership is the outcome of social and technological developments leading to post-scarcity and thus the elimination of material scarcity in society. [30]
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A system of social organisation. Part of John Rawls' five structures of social institutions. Caused by: The idea of a property-owning democracy derived from Western political thought. Goals: Enabling a fairer distribution of property and political power. Methods: This system is implemented through policy reform.