is a range of economic
and social systems
characterised by social ownership
of the means of production
and workers' self-management
, as well as the political theories and movements associated with them. Social ownership can be public
ownership, or citizen ownership of equity
. There are many varieties of socialism and there is no single definition encapsulating all of them, with social ownership being the common element shared by its various forms
Socialist systems are divided into non-market and market forms. Non-market socialism involves replacing factor markets and money with engineering and technical criteria based on calculation performed in-kind, thereby producing an economic mechanism that functions according to different economic laws from those of capitalism. Non-market socialism aims to circumvent the inefficiencies and crises traditionally associated with capital accumulation and the profit system. By contrast, market socialism retains the use of monetary prices, factor markets and in some cases the profit motive, with respect to the operation of socially owned enterprises and the allocation of capital goods between them. Profits generated by these firms would be controlled directly by the workforce of each firm, or accrue to society at large in the form of a social dividend. The socialist calculation debate concerns the feasibility and methods of resource allocation for a socialist system.
Socialist politics has been both internationalist and nationalist in orientation; organised through political parties and opposed to party politics; at times overlapping with trade unions, and at other times independent and critical of unions; and present in both industrialised and developing nations. Originating within the socialist movement, social democracy has embraced a mixed economy with a market that includes substantial state intervention in the form of income redistribution, regulation, and a welfare state. Economic democracy proposes a sort of market socialism where there is more decentralised control of companies, currencies, investments, and natural resources.
The socialist political movement includes a set of political philosophies that originated in the revolutionary movements of the mid-to-late 18th century and out of concern for the social problems that were associated with capitalism. By the late 19th century, after the work of Karl Marx and his collaborator Friedrich Engels, socialism had come to signify opposition to capitalism and advocacy for a post-capitalist system based on some form of social ownership of the means of production. By the 1920s, social democracy and communism had become the two dominant political tendencies within the international socialist movement. By this time, socialism emerged as "the most influential secular movement of the twentieth century, worldwide. It is a political ideology (or world view), a wide and divided political movement" and while the emergence of the Soviet Union as the world's first nominally socialist state led to socialism's widespread association with the Soviet economic model, some economists and intellectuals argued that in practice the model functioned as a form of state capitalism or a non-planned administrative or command economy. Socialist parties and ideas remain a political force with varying degrees of power and influence on all continents, heading national governments in many countries around the world. Today, some socialists have also adopted the causes of other social movements, such as environmentalism, feminism and progressivism.
The term revolutionary socialism refers to socialist tendencies that subscribe to the doctrine that social revolution is necessary in order to affect structural changes to society. More specifically, it is the view that revolution is a necessary precondition for a transition from capitalism to socialism. Revolution is not necessarily defined as a violent insurrection; it is defined as seizure of political power by mass movements of the working class so that the power is given directly to the state to directly control the working class as opposed to the capitalist class and its interests that allow for individual choice. Revolutionary socialists believe such a state of affairs is a precondition for establishing socialism and Orthodox Marxists believe that it is inevitable but not predetermined.
Revolutionary socialism encompasses multiple political and social movements that may define "revolution" differently from one another. These include movements based on Orthodox Marxist theory, such as DeLeonism, Impossibilism and Luxemburgism; as well as movements based on Leninism and the theory of Vanguardist-led revolution, such as Maoism, Marxism–Leninism and Trotskyism. Revolutionary socialism also includes non-Marxist movements like anarchism, revolutionary syndicalism, and some forms of democratic socialism. It is used in contrast to the reformism of social democracy, which is not anti-capitalist in form. Revolutionary socialism is opposed to social movements that seek to gradually ameliorate the economic and social problems of capitalism through political reform. Revolutionary socialism also exists in contrast to the concept of small revolutionary groups seizing power without first achieving mass support, termed Blanquism.
The celebration of the election of the Commune on 28 March 1871—the Paris Commune was a major early implementation of socialist ideas
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