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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.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021. [8] [1] [11]
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.
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 ...
This is a sortable list of all European countries by their gross domestic product in billions of US dollars at market or official government exchange rates (nominal GDP), according to the International Monetary Fund. The economic and political map of Europe also includes: Turkey, Georgia, Armenia, Azerbaijan, Cyprus and Kosovo.
These tables are lists of social welfare spending as a percentage of GDP compiled by Organisation for Economic Co-operation and Development ("OECD") into the OECD Social Expenditure Database which "includes reliable and internationally comparable statistics on public and mandatory and voluntary private social expenditure at programme level." [1]
Liberal socialism refuses to abolish capitalism with a socialist economy [209] and supports a mixed economy that includes both social ownership and private property in capital goods. [ 210 ] [ 211 ] This synthesis sees liberalism as the political theory that takes the inner freedom of the human spirit as a given and adopts liberty as the goal ...
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]