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Examples of market socialism include economic democracy, the Lange model, liberal socialism, market-oriented left-libertarianism, mutualism the New Economic Mechanism and Ricardian socialism. Other types of market socialist systems such as mutualism are related to the political philosophy of libertarian socialism .
The All People's Congress is a political party based on African socialism. Sudan: Democratic Republic of the Sudan: 25 May 1969 10 October 1985 16 years, 138 days Preamble: "In the belief of our pursuit of freedom, socialism and democracy to achieve the society of sufficiency, justice and equality". [97] / Syria: Syrian Arab Republic: 8 March 1963
This is an accepted version of this page This is the latest accepted revision, reviewed on 16 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 ...
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 ...
Examples of countries directly using the term socialist in their names include the Democratic Socialist Republic of Sri Lanka and the Socialist Republic of Vietnam, while a number of countries make references to socialism in their constitutions, but not in their names.
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 ...
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 ...
The phrase market socialism has occasionally been used in reference to any attempt by a Soviet-type planned economy to introduce market elements into its economic system. In this sense, market socialism was first attempted during the 1920s in the Soviet Union as the New Economic Policy (NEP) before being abandoned.