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This is an accepted version of this page This is the latest accepted revision, reviewed on 6 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 ...
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 .
Socialism was the word predominantly used by Marxists up until World War I and the Bolshevik Revolution, at which time Vladimir Lenin made the conscious decision to replace the term socialism with communism, renaming the Russian Social Democratic Labor Party to the All-Russian Communist Party.
Democracy, meaning "rule of the people", is a system of government in which the citizens exercise power directly or elect representatives from among themselves to form a governing body, such as a parliament. Democracy is sometimes referred to as "rule of the majority".
In sociology, the ruling class of a society is the social class who set and decide the political and economic agenda of society.. In Marxist philosophy, the ruling class are the class who own the means of production in a given society and apply their cultural hegemony to determine and establish the dominant ideology (ideas, culture, mores, norms, traditions) of the society.
The term socialism to mean the lower-state of communism was popularized during the Russian Revolution by Lenin. This view is consistent with, and helped to inform early concepts of, socialism in which the law of value no longer directs economic activity, namely, that monetary relations in the form of exchange-value , profit , interest, and wage ...
Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] is a form of government in which power rests with a small number of people.
There are many varieties of socialism and no single definition encapsulates all of them, [11] but social ownership is a common element shared by its various forms. [ 1 ] [ 12 ] [ 13 ] Socialists disagree about the degree to which social control or regulation of the economy is necessary, how far society should intervene, and whether government ...