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{{#invoke:Hatnote|hatnote}} {{#invoke:Pp-move-indef|main}} {{ safesubst:#invoke:Unsubst||$N=Use British English |date=__DATE__ |$B= }} {{ safesubst:#invoke:Unsubst||$N=Use dmy dates |date=__DATE__ |$B= }}

Socialism is a social and economic system characterised by social ownership<ref name="Nove">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> and control<ref name="online edition">"Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources...Society as a whole, therefore, should own or at least control property for the benefit of all its members." "Socialism" at Encyclopedia Britannica online edition.</ref><ref name="Busky1">{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>"Socialism: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies...a system or condition of society in which the means of production are owned and controlled by the state." "Socialism" at Merriam Webster Dictionary. Online edition"</ref><ref>"a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole." "Socialism" at dictionary.com</ref><ref>"What else does a socialist economic system involve? Those who favor socialism generally speak of social ownership, social control, or socialization of the means fo production as the distinctive positive feature of a socialist economic system" N. Scott Arnold. The Philosophy and Economics of Market Socialism : A Critical Study. Oxford University Press. 1998. pg. 8</ref> of the means of production<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> as well as a political theory and movement that aims at the establishment of such a system.<ref>"2. (Government, Politics & Diplomacy) any of various social or political theories or movements in which the common welfare is to be achieved through the establishment of a socialist economic system" "Socialism" at The Free dictionary</ref> "Social ownership" may refer to public ownership, cooperative ownership, citizen ownership of equity, or any combination of these.<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> Although there are many varieties of socialism and there is no single definition encapsulating all of them,<ref name="Peter Lamb 2006. p. 1">Peter Lamb, J. C. Docherty. Historical dictionary of socialism. Lanham, Maryland, UK; Oxford, England, UK: Scarecrow Press, Inc, 2006. p. 1.</ref> social ownership is the common element shared by its various forms.<ref name="Busky1"/><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref>

Socialism can be divided into both non-market and market forms.<ref name="Kolb">{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> Non-market socialism involves substituting factor markets, money and financial decisions for managing the economy with engineering and technical criteria centered around calculation performed in-kind, functioning under different economic laws than those of capitalism with the goal of producing an economic mechanism that circumvents the inefficiencies and crises traditionally associated with capital accumulation and the profit system.<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>Is Socialism Dead? A Comment on Market Socialism and Basic Income Capitalism, by Arneson, Richard J. 1992. Ethics, vol. 102, no. 3, pp 485-511. April 1992: "Marxian socialism is often identified with the call to organize economic activity on a nonmarket basis."</ref><ref>Market Socialism: The Debate Among Socialists, by Schweickart, David; Lawler, James; Ticktin, Hillel; Ollman, Bertell. 1998. From "The Difference Between Marxism and Market Socialism" (pp. 61–63): "More fundamentally, a socialist society must be one in which the economy is run on the principle of the direct satisfaction of human needs...Exchange-value, prices and so money are goals in themselves in a capitalist society or in any market. There is no necessary connection between the accumulation of capital or sums of money and human welfare. Under conditions of backwardness, the spur of money and the accumulation of wealth has led to a massive growth in industry and technology ... It seems an odd argument to say that a capitalist will only be efficient in producing use-value of a good quality when trying to make more money than the next capitalist. It would seem easier to rely on the planning of use-values in a rational way, which because there is no duplication, would be produced more cheaply and be of a higher quality."</ref><ref>The Economics of Feasible Socialism Revisited, by Nove, Alexander. 1991. (P.13): "Under socialism, by definition, it (private property and factor markets) would be eliminated. There would then be something like ‘scientific management’, ‘the science of socially organized production’, but it would not be economics."</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }} "This understanding of socialism was held not just by revolutionary Marxist socialists but also by evolutionary socialists, Christian socialists, and even anarchists. At that time, there was also wide agreement about the basic institutions of the future socialist system: public ownership instead of private ownership of the means of production, economic planning instead of market forces, production for use instead of for profit."</ref><ref name="Toward a Socialism for the Future, in the Wake of the Demise of the Socialism of the Past 1">Toward a Socialism for the Future, in the Wake of the Demise of the Socialism of the Past, by Weisskopf, Thomas E. 1992. Review of Radical Political Economics, Vol. 24, No. 3-4, pp. 2: "Socialism has historically been committed to the improvement of people’s material standards of living. Indeed, in earlier days many socialists saw the promotion of improving material living standards as the primary basis for socialism’s claim to superiority over capitalism, for socialism was to overcome the irrationality and inefficiency seen as endemic to a capitalist system of economic organization."</ref> 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. The profits generated by these firms may variously be used to directly remunerate employees, accrue to society at large as the source of public finance, or be distributed among the population in a social dividend.<ref name="Social Dividend versus Basic Income Guarantee in Market Socialism, 2004">Social Dividend versus Basic Income Guarantee in Market Socialism, by Marangos, John. 2004. International Journal of Political Economy, vol. 34, no. 3, Fall 2004.</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> The feasibility and exact methods of resource allocation and calculation for a socialist system are the subjects of the socialist calculation debate.

The socialist political movement includes a diverse array of political philosophies that originated amid the revolutionary movements of the mid-to-late 1700s out of general concern for the social problems that were associated with capitalism.<ref name="Peter Lamb 2006. p. 1"/> In addition to the debate over the degree to which to rely on markets versus planning, the varieties of socialism differ in the type of social ownership they advocate, how management is to be organized within productive institutions, and the role of the state in constructing socialism.<ref name="Nove" /><ref name="Peter Lamb 2006. p. 1"/> Core dichotomies associated with these concerns include reformism versus revolutionary socialism, and state socialism versus libertarian socialism. While all tendencies of socialism consider themselves democratic, the term "democratic socialism" is often used to highlight its advocates' high value for democratic processes and political systems and usually to draw contrast to other socialist tendencies they may perceive to be undemocratic in their approach.<ref>Often, this definition is invoked to distinguish democratic socialism from authoritarian socialism as in Malcolm Hamilton Democratic Socialism in Britain and Sweden (St Martin's Press 1989),in Donald F. Busky, Democratic Socialism: A Global Survey Greenwood Publishing, 2000, See pp.7-8., Jim Tomlinson's Democratic Socialism and Economic Policy: The Attlee Years, 1945-1951, Norman Thomas Democratic Socialism: a new appraisal or Roy Hattersley's Choose Freedom: The Future of Democratic Socialism</ref>

By the late 19th century, and after further articulation and advancement by Karl Marx and his collaborator Friedrich Engels as the culmination of technological development outstripping the economic dynamics of capitalism,<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> "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.<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref name="Anthony Giddens 1994, p. 71">Anthony Giddens. Beyond Left and Right: The Future of Radical Politics. 1998 edition. Cambridge, England, UK: Polity Press, 1994, 1998. p. 71.</ref> Socialism proceeded to become the most influential worldwide movement and political-economic worldview of the 20th century.<ref>"Socialism was the most influential secular movement of the twentieth century, worldwide. It was a political ideology (or world view), a wide and divided political movement..." George Thomas Kurian (ed). The Encyclopedia of Political Science CQ Press. Washington D.c. 2011. Pgs. 1554</ref> While the emergence of the Soviet Union as the world's first nominally<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> socialist state led to socialism's widespread association with Marxism-Leninism and the Soviet economic model, many economists and intellectuals argue that the Soviet Union failed to truly establish socialism<ref>Noam Chomsky (1986). The Soviet Union Versus Socialism. Our Generation. Retrieved 20 October 2015.</ref> and that it instead represented a form of state capitalism<ref>'State Capitalism' in the Soviet Union, M.C. Howard and J.E. King</ref><ref>Richard D. Wolff (27 June 2015). Socialism Means Abolishing the Distinction Between Bosses and Employees. Truthout. Retrieved 9 July 2015.</ref> or a non-planned "command" or "managed" economy.<ref name="The Soviet Union Has an Administered, Not a Planned, Economy, 1985">{{#invoke:Citation/CS1|citation |CitationClass=journal }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> Socialist parties and ideas remain a political force with varying degrees of power and influence in all continents, and, today, some socialists have adopted the causes of other social movements, such as environmentalism, feminism and liberalism.<ref>Garrett Ward Sheldon. Encyclopedia of Political Thought. Fact on File. Inc. 2001. pg. 280</ref>


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{{#invoke:Hatnote|hatnote}} {{#invoke:Pp-move-indef|main}} {{ safesubst:#invoke:Unsubst||$N=Use British English |date=__DATE__ |$B= }} {{ safesubst:#invoke:Unsubst||$N=Use dmy dates |date=__DATE__ |$B= }}

Socialism is a social and economic system characterised by social ownership<ref name="Nove">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> and control<ref name="online edition">"Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources...Society as a whole, therefore, should own or at least control property for the benefit of all its members." "Socialism" at Encyclopedia Britannica online edition.</ref><ref name="Busky1">{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>"Socialism: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies...a system or condition of society in which the means of production are owned and controlled by the state." "Socialism" at Merriam Webster Dictionary. Online edition"</ref><ref>"a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole." "Socialism" at dictionary.com</ref><ref>"What else does a socialist economic system involve? Those who favor socialism generally speak of social ownership, social control, or socialization of the means fo production as the distinctive positive feature of a socialist economic system" N. Scott Arnold. The Philosophy and Economics of Market Socialism : A Critical Study. Oxford University Press. 1998. pg. 8</ref> of the means of production<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> as well as a political theory and movement that aims at the establishment of such a system.<ref>"2. (Government, Politics & Diplomacy) any of various social or political theories or movements in which the common welfare is to be achieved through the establishment of a socialist economic system" "Socialism" at The Free dictionary</ref> "Social ownership" may refer to public ownership, cooperative ownership, citizen ownership of equity, or any combination of these.<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> Although there are many varieties of socialism and there is no single definition encapsulating all of them,<ref name="Peter Lamb 2006. p. 1">Peter Lamb, J. C. Docherty. Historical dictionary of socialism. Lanham, Maryland, UK; Oxford, England, UK: Scarecrow Press, Inc, 2006. p. 1.</ref> social ownership is the common element shared by its various forms.<ref name="Busky1"/><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref>

Socialism can be divided into both non-market and market forms.<ref name="Kolb">{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> Non-market socialism involves substituting factor markets, money and financial decisions for managing the economy with engineering and technical criteria centered around calculation performed in-kind, functioning under different economic laws than those of capitalism with the goal of producing an economic mechanism that circumvents the inefficiencies and crises traditionally associated with capital accumulation and the profit system.<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>Is Socialism Dead? A Comment on Market Socialism and Basic Income Capitalism, by Arneson, Richard J. 1992. Ethics, vol. 102, no. 3, pp 485-511. April 1992: "Marxian socialism is often identified with the call to organize economic activity on a nonmarket basis."</ref><ref>Market Socialism: The Debate Among Socialists, by Schweickart, David; Lawler, James; Ticktin, Hillel; Ollman, Bertell. 1998. From "The Difference Between Marxism and Market Socialism" (pp. 61–63): "More fundamentally, a socialist society must be one in which the economy is run on the principle of the direct satisfaction of human needs...Exchange-value, prices and so money are goals in themselves in a capitalist society or in any market. There is no necessary connection between the accumulation of capital or sums of money and human welfare. Under conditions of backwardness, the spur of money and the accumulation of wealth has led to a massive growth in industry and technology ... It seems an odd argument to say that a capitalist will only be efficient in producing use-value of a good quality when trying to make more money than the next capitalist. It would seem easier to rely on the planning of use-values in a rational way, which because there is no duplication, would be produced more cheaply and be of a higher quality."</ref><ref>The Economics of Feasible Socialism Revisited, by Nove, Alexander. 1991. (P.13): "Under socialism, by definition, it (private property and factor markets) would be eliminated. There would then be something like ‘scientific management’, ‘the science of socially organized production’, but it would not be economics."</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }} "This understanding of socialism was held not just by revolutionary Marxist socialists but also by evolutionary socialists, Christian socialists, and even anarchists. At that time, there was also wide agreement about the basic institutions of the future socialist system: public ownership instead of private ownership of the means of production, economic planning instead of market forces, production for use instead of for profit."</ref><ref name="Toward a Socialism for the Future, in the Wake of the Demise of the Socialism of the Past 1">Toward a Socialism for the Future, in the Wake of the Demise of the Socialism of the Past, by Weisskopf, Thomas E. 1992. Review of Radical Political Economics, Vol. 24, No. 3-4, pp. 2: "Socialism has historically been committed to the improvement of people’s material standards of living. Indeed, in earlier days many socialists saw the promotion of improving material living standards as the primary basis for socialism’s claim to superiority over capitalism, for socialism was to overcome the irrationality and inefficiency seen as endemic to a capitalist system of economic organization."</ref> 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. The profits generated by these firms may variously be used to directly remunerate employees, accrue to society at large as the source of public finance, or be distributed among the population in a social dividend.<ref name="Social Dividend versus Basic Income Guarantee in Market Socialism, 2004">Social Dividend versus Basic Income Guarantee in Market Socialism, by Marangos, John. 2004. International Journal of Political Economy, vol. 34, no. 3, Fall 2004.</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> The feasibility and exact methods of resource allocation and calculation for a socialist system are the subjects of the socialist calculation debate.

The socialist political movement includes a diverse array of political philosophies that originated amid the revolutionary movements of the mid-to-late 1700s out of general concern for the social problems that were associated with capitalism.<ref name="Peter Lamb 2006. p. 1"/> In addition to the debate over the degree to which to rely on markets versus planning, the varieties of socialism differ in the type of social ownership they advocate, how management is to be organized within productive institutions, and the role of the state in constructing socialism.<ref name="Nove" /><ref name="Peter Lamb 2006. p. 1"/> Core dichotomies associated with these concerns include reformism versus revolutionary socialism, and state socialism versus libertarian socialism. While all tendencies of socialism consider themselves democratic, the term "democratic socialism" is often used to highlight its advocates' high value for democratic processes and political systems and usually to draw contrast to other socialist tendencies they may perceive to be undemocratic in their approach.<ref>Often, this definition is invoked to distinguish democratic socialism from authoritarian socialism as in Malcolm Hamilton Democratic Socialism in Britain and Sweden (St Martin's Press 1989),in Donald F. Busky, Democratic Socialism: A Global Survey Greenwood Publishing, 2000, See pp.7-8., Jim Tomlinson's Democratic Socialism and Economic Policy: The Attlee Years, 1945-1951, Norman Thomas Democratic Socialism: a new appraisal or Roy Hattersley's Choose Freedom: The Future of Democratic Socialism</ref>

By the late 19th century, and after further articulation and advancement by Karl Marx and his collaborator Friedrich Engels as the culmination of technological development outstripping the economic dynamics of capitalism,<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> "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.<ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref><ref name="Anthony Giddens 1994, p. 71">Anthony Giddens. Beyond Left and Right: The Future of Radical Politics. 1998 edition. Cambridge, England, UK: Polity Press, 1994, 1998. p. 71.</ref> Socialism proceeded to become the most influential worldwide movement and political-economic worldview of the 20th century.<ref>"Socialism was the most influential secular movement of the twentieth century, worldwide. It was a political ideology (or world view), a wide and divided political movement..." George Thomas Kurian (ed). The Encyclopedia of Political Science CQ Press. Washington D.c. 2011. Pgs. 1554</ref> While the emergence of the Soviet Union as the world's first nominally<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> socialist state led to socialism's widespread association with Marxism-Leninism and the Soviet economic model, many economists and intellectuals argue that the Soviet Union failed to truly establish socialism<ref>Noam Chomsky (1986). The Soviet Union Versus Socialism. Our Generation. Retrieved 20 October 2015.</ref> and that it instead represented a form of state capitalism<ref>'State Capitalism' in the Soviet Union, M.C. Howard and J.E. King</ref><ref>Richard D. Wolff (27 June 2015). Socialism Means Abolishing the Distinction Between Bosses and Employees. Truthout. Retrieved 9 July 2015.</ref> or a non-planned "command" or "managed" economy.<ref name="The Soviet Union Has an Administered, Not a Planned, Economy, 1985">{{#invoke:Citation/CS1|citation |CitationClass=journal }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> Socialist parties and ideas remain a political force with varying degrees of power and influence in all continents, and, today, some socialists have adopted the causes of other social movements, such as environmentalism, feminism and liberalism.<ref>Garrett Ward Sheldon. Encyclopedia of Political Thought. Fact on File. Inc. 2001. pg. 280</ref>


Socialism sections
Intro  Etymology  History  Social and Political theory  Economics  Politics  Criticism  See also  References  Further reading  External links  

PREVIOUS: IntroNEXT: Etymology
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