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Other forms of market socialism are based on classical economics, such as those advocated by Thomas Hodgskin, who viewed interest accumulation, rent and profit as deductions from exchange-value, so that eliminating the capitalist element from the economy would lead to a free market and socialism. The term market socialism has also been applied ...
Socialism is an economic and political philosophy encompassing diverse economic and social systems [1] ... (or use-value in classical and Marxian economics), ...
János Kornai identifies five distinct types of socialism: Classical and Marxist conception, where socialism is a stage of economic development in which wage labour, private property in the means of production and monetary relations have been made redundant through the development of the productive forces, so that capital accumulation has been ...
Socialism was the word predominantly used by Marxists up until World War I and the Bolshevik Revolution, ... Its classical period, ...
Ricardian socialism is a branch of early 19th century classical economic thought based on the theory that labor is the source of all wealth and exchange value, and rent, profit and interest represent distortions to a free market.
Some distinguish between ideological social democracy as part of the broad socialist movement and social democracy as a policy regime. They call the first classical social democracy or classical socialism, [46] and the latter as competitive socialism, [47] liberal socialism, [48] neo-social democracy, [49] or new social democracy. [50]
Ricardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). Despite Ricardo being a capitalist economist, the term is used to describe economists in the 1820s and 1830s who developed a theory of capitalist exploitation from the theory developed by Ricardo that stated that labor ...
Classical Marxism is the body of economic, philosophical, and sociological theories expounded by Karl Marx and Friedrich Engels in their works, as contrasted with orthodox Marxism, Marxism–Leninism, and autonomist Marxism which emerged after their deaths. [1]