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The Anglo-Saxon model (so called because it is practiced in Anglosphere countries such as the United Kingdom, the United States, Canada, New Zealand, Australia [1] and Ireland [2]) is a regulated market-based economic model that emerged in the 1970s based on the Chicago school of economics, spearheaded in the 1980s in the United States by the economics of then President Ronald Reagan (dubbed ...
Libertarian socialism, sometimes called left-libertarianism, [221] [222] social anarchism [223] [224] and socialist libertarianism, [225] is a political philosophy within the socialist movement that reject the view of socialism as state ownership or command of the means of production [226] within a more general criticism of the state form ...
The following outline is provided as an overview of and topical guide to socialism: 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]
Socialist production involves rational planning of use-values and coordination of investment decisions to attain economic goals. [10] In this approach, cyclical fluctuations that occur in a capitalist market economy do not exist in a socialist economy. The value of a good in socialism is its physical utility rather than its embodied labour ...
Unlike a basic income, the social dividend yield varies based on the performance of the socially owned economy. [3] The social dividend can be regarded as the socialist analogue to basic income. [4] More recently the term universal basic dividend (UBD) has been used to contrast the social dividend concept with basic income. [5] [6]
The law of equal liberty is the fundamental precept of liberalism and socialism. [1] Stated in various ways by many thinkers, it can be summarized as the view that all individuals must be granted the maximum possible freedom as long as that freedom does not interfere with the freedom of anyone else. [2]
[10] These principles are thought to be best fulfilled by a system of property-owning democracy. [5]: 174 Equal basic liberties are improved and ensured, as a dispersal of wealth, income and property allows all individuals a relatively comparable level of political and economic power.
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 ...