Libertarian socialism is an anti-authoritarian and anti-capitalist political current that emphasises self-governance and workers' self-management. It is contrasted from other forms of socialism by its rejection of state ownership and from other forms of libertarianism by its rejection of private property. Broadly defined, it includes schools of both anarchism and Marxism, as well as other tendencies that oppose the state and capitalism.
Left-wing politics describes the range of political ideologies that support and seek to achieve social equality and egalitarianism, often in opposition to social hierarchy as a whole or certain social hierarchies. Left-wing politics typically involve a concern for those in society whom its adherents perceive as disadvantaged relative to others as well as a belief that there are unjustified inequalities that need to be reduced or abolished through radical means that change the nature of the society they are implemented in. According to emeritus professor of economics Barry Clark, supporters of left-wing politics "claim that human development flourishes when individuals engage in cooperative, mutually respectful relations that can thrive only when excessive differences in status, power, and wealth are eliminated."
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 the standard left wing ideology in most countries of the world. Types of socialism vary based on the role of markets and planning in resource allocation, and the structure of management in organizations.
State capitalism is an economic system in which the state undertakes business and commercial economic activity and where the means of production are nationalized as state-owned enterprises. The definition can also include the state dominance of corporatized government agencies or of public companies in which the state has controlling shares.
Anti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system, such as socialism or communism.
Paul Marlor Sweezy was a Marxist economist, political activist, publisher, and founding editor of the long-running magazine Monthly Review. He is best remembered for his contributions to economic theory as one of the leading Marxian economists of the second half of the 20th century.
World-systems theory is a multidisciplinary approach to world history and social change which emphasizes the world-system as the primary unit of social analysis. World-systems theorists argue that their theory explains the rise and fall of states, income inequality, social unrest, and imperialism.
Marxism is a political philosophy and method of socioeconomic analysis. It uses a dialectical materialist interpretation of historical development, better known as historical materialism, to analyse class relations, social conflict, and social transformation. Marxism originates with the works of 19th-century German philosophers Karl Marx and Friedrich Engels. Marxism has developed over time into various branches and schools of thought, and as a result, there is no single, definitive Marxist theory. Marxism has had a profound effect in shaping the modern world, with various left-wing and far-left political movements taking inspiration from it in varying local contexts.
The theory of state monopoly capitalism was initially a Marxist thesis popularised after World War II. Lenin had claimed in 1916 that World War I had transformed laissez-faire capitalism into monopoly capitalism, but he did not publish any extensive theory about the topic. The term refers to an environment where the state intervenes in the economy to protect larger monopolistic or oligopolistic businesses from threats. As conceived by Lenin in his pamphlet of the same name, the theory aims to describe the final historical stage of capitalism, of which he believed the Imperialism of that time to be the highest expression.
Samir Amin was an Egyptian-French Marxian economist, political scientist and world-systems analyst. He is noted for his introduction of the term Eurocentrism in 1988 and considered a pioneer of Dependency Theory.
Criticism of capitalism is a critique of political economy that involves the rejection of, or dissatisfaction with the economic system of capitalism and its outcomes. Criticisms typically range from expressing disagreement with particular aspects or outcomes of capitalism to rejecting the principles of the capitalist system in its entirety.
Monopoly Capital: An Essay on the American Economic and Social Order is a 1966 book by the Marxian economists Paul Sweezy and Paul A. Baran. It was published by Monthly Review Press. It made a major contribution to Marxian theory by shifting attention from the assumption of a competitive economy to the monopolistic economy associated with the giant corporations that dominate the modern accumulation process. Their work played a leading role in the intellectual development of the New Left in the 1960s and 1970s. As a review in the American Economic Review stated, it represented "the first serious attempt to extend Marx’s model of competitive capitalism to the new conditions of monopoly capitalism." It attracted renewed attention following the Great Recession.
Socialism of the 21st century is an interpretation of socialist principles first advocated by German sociologist and political analyst Heinz Dieterich and taken up by a number of Latin American leaders. Dieterich argued in 1996 that both free-market industrial capitalism and 20th-century socialism have failed to solve urgent problems of humanity such as poverty, hunger, exploitation of labour, economic oppression, sexism, racism, the destruction of natural resources and the absence of true democracy. Socialism of the 21st century has democratic socialist elements, but it also resembles Marxist revisionism.
Social democracy is a political, social, and economic philosophy within socialism that supports political and economic democracy and a gradualist, reformist and democratic approach towards achieving socialism. In practice, social democracy has taken the form of socially managed welfare capitalism, and emphasizes economic interventionism, partial public ownership, a robust welfare state, policies promoting social equality, and a more equitable distribution of income.
Robert Paul Brenner is an American economic historian. He is a professor emeritus of history and director of the Center for Social Theory and Comparative History at UCLA, editor of the socialist journal Against the Current, and editorial committee member of New Left Review. His research interests are early modern European history, economic, social and religious history, agrarian history, social theory/Marxism, and Tudor–Stuart England.
Democratic socialism is a left-wing set of political philosophies that supports political democracy and some form of a socially owned economy, with a particular emphasis on economic democracy, workplace democracy, and workers' self-management within a market socialist, decentralised planned, or democratic centrally planned socialist economy. Democratic socialists argue that capitalism is inherently incompatible with the values of freedom, equality, and solidarity and that these ideals can only be achieved through the realisation of a socialist society. Although most democratic socialists seek a gradual transition to socialism, democratic socialism can support revolutionary or reformist politics to establish socialism. Democratic socialism was popularised by socialists who opposed the backsliding towards a one-party state in the Soviet Union and other nations during the 20th century.
State socialism is a political and economic ideology within the socialist movement that advocates state ownership of the means of production. This is intended either as a temporary measure, or as a characteristic of socialism in the transition from the capitalist to the socialist mode of production or to a communist society. State socialism was first theorised by Ferdinand Lassalle. It advocates a planned economy controlled by the state in which all industries and natural resources are state-owned.
Social ownership is a type of property where an asset is recognized to be in the possession of society as a whole rather than individual members or groups within it. Social ownership of the means of production is the defining characteristic of a libretarian socialist economy, and can take the form of community ownership, state ownership, common ownership, employee ownership, cooperative ownership, and citizen ownership of equity. Within the context of socialist economics it refers particularly to the appropriation of the surplus product, produced by the means of production, or the wealth that comes from it, to society at large or the workers themselves. Traditionally, social ownership implied that capital and factor markets would cease to exist under the assumption that market exchanges within the production process would be made redundant if capital goods were owned and integrated by a single entity or network of entities representing society. However, the articulation of models of market socialism where factor markets are utilized for allocating capital goods between socially owned enterprises broadened the definition to include autonomous entities within a market economy.
A socialist state, socialist republic, or socialist country, sometimes referred to as a workers' state or workers' republic, is a sovereign state constitutionally dedicated to the establishment of socialism. The term communist state is often used synonymously in the West, specifically when referring to one-party socialist states governed by Marxist–Leninist communist parties, despite these countries being officially socialist states in the process of building socialism and progressing toward a communist society. These countries never describe themselves as communist nor as having implemented a communist society. Additionally, a number of countries that are multi-party capitalist states make references to socialism in their constitutions, in most cases alluding to the building of a socialist society, naming socialism, claiming to be a socialist state, or including the term people's republic or socialist republic in their country's full name, although this does not necessarily reflect the structure and development paths of these countries' political and economic systems. Currently, these countries include Algeria, Bangladesh, Guyana, India, Nepal, Nicaragua, Sri Lanka and Tanzania.
Theories of imperialism are a range of theoretical approaches to understanding the expansion of capitalism into new areas, the unequal development of different countries, and economic systems that may lead to the dominance of some countries over others. These theories are considered distinct from other uses of the word imperialism which refer to the general tendency for empires throughout history to seek power and territorial expansion. The theory of imperialism is often associated with Marxist economics, but many theories were developed by non-Marxists. Most theories of imperialism, with the notable exception of ultra-imperialism, hold that imperialist exploitation leads to warfare, colonization, and international inequality.
