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State socialism can be used to classify any variety of socialist philosophies that advocates the ownership of the means of production by the state apparatus, either as a transitional stage between capitalism and socialism, or as an end-goal in itself. Typically, it refers to a form of technocratic management, whereby technical specialists ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 4 March 2025. Economic system based on private ownership This article is about an economic system. For other uses, see Capitalism (disambiguation). "Capitalist" redirects here. For other uses, see Capitalist (disambiguation). Part of a series on Capitalism Concepts Austerity Business Business cycle ...
Democratic socialism is a broad political movement that seeks to propagate the ideals of socialism within the context of a democratic system, as was done by Western social democrats, who popularized democratic socialism as a label to criticize the perceived authoritarian or non-democratic socialist development in the East, during the 19th and ...
Socialism has been described as a philosophy seeking distributive justice, and communism as a subset of socialism that prefers economic equality as its form of distributive justice. [76] In 19th century Europe, the use of the terms communism and socialism eventually accorded with the cultural attitude of adherents and opponents towards religion.
One of the foremost scholars who have argued that socialism and democracy are compatible is the Austrian-born American economist Joseph Schumpeter, who was hostile to socialism. [204] In his book Capitalism, Socialism and Democracy (1942), Schumpeter emphasised that "political democracy was thoroughly compatible with socialism in its fullest ...
Simple commodity exchange and consequently simple commodity production, which form the initial basis for the growth of capital from trade, have a very long history. The "capitalistic era" according to Marx dates from the 16th century, i.e. it began with merchant capitalism and relatively small urban workshops. [6]
The Marxist view of socialism served as a point of reference during the socialist calculation debate. Marx himself did not use the term socialism to refer to this development. Instead, Marx called it a communist society that has not yet reached its higher-stage. [8] The term socialism was popularized during the Russian Revolution by Vladimir ...
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.