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Socialism is an economic and political philosophy encompassing diverse economic and social systems [1] characterised by social ownership of the means of production, [2] as opposed to private ownership. [3] [4] [5] It describes the economic, political, and social theories and movements associated with the implementation of such systems. [6]
As a term, socialism represents a broad range of theoretical and historical socioeconomic systems and has also been used by many political movements throughout history to describe themselves and their goals, generating a variety of socialism types. [8] Socialist economic systems can be further divided into market and non-market forms. [14]
The self-managed economy is a form of socialism where enterprises are owned and managed by their employees, effectively negating the employer-employee (or wage labor) dynamic of capitalism and emphasizing the opposition to alienation, self-managing and cooperative aspect of socialism. Members of cooperative firms are relatively free to manage ...
Socialism: If you have two cows, the Government takes one and gives it to your neighbor. Communism: If you have two cows, Government takes both and then gives you some milk. Fascism: If you have two cows, you keep the cows and give the milk to the Government; then the government sells you some milk.
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.
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 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.
Scientific socialism is a method for understanding and predicting social, economic and material phenomena by examining their historical trends through the use of the scientific method in order to derive probable outcomes and probable future developments.