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Socialism is an economic and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownership. It describes the economic, political, and social theories and movements associated with the implementation of such systems. Social ownership can take various forms, including public, community, collective, cooperative, or employee. As one of the main ideologies on the political spectrum, socialism is considered as the standard left-wing ideology in most countries. Types of socialism vary based on the role of markets and planning in resource allocation, and the structure of management in organizations.

The socialist political movement includes political philosophies that originated in the revolutionary movements of the mid-to-late 18th century and out of concern for the social problems that socialists associated with capitalism. By the late 19th century, after the work of Karl Marx and his collaborator Friedrich Engels, socialism had come to signify anti-capitalism and advocacy for a post-capitalist system based on some form of social ownership of the means of production. By the early 1920s, communism and social democracy had become the two dominant political tendencies within the international socialist movement, with socialism itself becoming the most influential secular movement of the 20th century. Many socialists also adopted the causes of other social movements, such as feminism, environmentalism, and progressivism. (Full article...)

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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.


Bernstein in 1895

Eduard Bernstein (German: [ˈeːduaʁt ˈbɛʁnʃtaɪn]; 6 January 1850 – 18 December 1932) was a German Marxist theorist and politician. A prominent member of the Social Democratic Party of Germany (SPD), he has been both condemned and praised as a "revisionist" who challenged major aspects of Karl Marx's thought. A key influence on the European social democratic movement, Bernstein argued for reformism over revolutionary action, and for a gradual democratization of capitalist society to achieve socialism.

Bernstein joined the Social Democratic Workers Party in 1872, which was merged into the SPD in 1875. He lived in exile in Switzerland and later London from 1878 to 1901, and in 1880 met Marx and Engels, who impressed him with their thought. With Karl Kautsky, Bernstein was one of the drafters of the party's Erfurt Program of 1891. In his 1899 book The Prerequisites of Socialism, Bernstein argued that socialism would be achieved through accumulated reforms and improvements of capitalism, rejecting the dialectical and revolutionary elements of Marxism. He was a member of the Imperial Reichstag from 1901 to 1907, and again from 1912 to 1918. After World War I, during which he joined the anti-war Independent Social Democratic Party of Germany (USPD), he was again a member of the Reichstag from 1920 to 1928. (Full article...)

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