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.
Socialism with Chinese characteristics, meaning socialism adapted to Chinese conditions, is the official ideology of the Communist Party of China (CPC), claimed to be based upon scientific socialism. This ideology supports the creation of a socialist market economy dominated by the public sector since China is, as claimed by the CPC, in the primary stage of socialism. The People's Republic of China (PRC) government maintains that it has not abandoned Marxism but has developed many of the terms and concepts of Marxist theory to accommodate its new economic system. The CPC argues that socialism is compatible with these economic policies. In current Chinese Communist thinking, China is in the primary stage of socialism—a view which explains the PRC government's flexible economic policies to develop into an industrialized nation.
||Imperialism is the highest stage of development of capitalism. Capital in the advanced countries has outgrown the boundaries of national states. It has established monopoly in place of competition, thus creating all the objective prerequisites for the achievement of socialism. Hence, in Western Europe and in the United States of America, the revolutionary struggle of the proletariat for the overthrow of the capitalist governments, for the expropriation of the bourgeoisie, is on the order of the day. Imperialism is forcing the masses into this struggle by sharpening class antagonisms to an immense degree, by worsening the conditions of the masses both economically—trusts and high cost of living, and politically—growth of militarism, frequent wars, increase of reaction, strengthening and extension of national oppression and colonial plunder. Victorious socialism must achieve complete democracy and, consequently, not only bring about the complete equality of nations, but also give effect to the right of oppressed nations to self-determination, i.e., the right to free political secession. Socialist Parties which fail to prove by all their activities now, as well as during the revolution and after its victory, that they will free the enslaved nations and establish relations with them on the basis of a free union and a free union is a lying phrase without right to secession—such parties would be committing treachery to socialism.
Of course, democracy is also a form of state which must disappear when the state disappears, but this will take place only in the process of transition from completely victorious and consolidated socialism to complete communism.
|— Vladimir Lenin, The Socialist Revolution and the Right of Nations to Self-Determination, 1916
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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