Socialists' Economic Standpoints

An economic and political system where the means of production (like factories, machines, and tools) are owned and controlled by the public or the community, rather than individuals or private companies.

A gradual shift toward more public ownership and regulation of the economy, aiming to address issues like inequality and worker exploitation.

Key individuals who shaped socialistic ideas, contributing to its development and becoming prominent voices within the movement.

The belief that social issues can be resolved through education and better working conditions, aiming to create more just and equitable society.

A system aiming to create a society where everyone shares the means of production and wealth, with the goal of achieving a classless society.

The process where the discontent with traditional economic systems (like capitalism) fuels the growth and popularity of alternative systems, like socialism.

The misunderstanding and misrepresentation of socialism, often leading to inaccurate perceptions and negative stereotypes.

The means by which things are produced, including factories, machines, tools, and other resources used to create goods and services.

A type of socialism characterized by a strong central government with limited democratic participation. It emphasizes central planning and state control over the economy.

Socialism that aims to achieve social change through revolutionary tactics, emphasizing the role of workers' movements and class struggle to dismantle capitalism and create a socialist society.

A form of socialism that aims to create ideal societies based on cooperation, equality, and social harmony. It emphasizes shared resources and voluntary collaboration.

A type of socialism that prioritizes individual liberty, decentralized decision-making, and direct democracy. It advocates for self-government, local sovereignty, and power shared among the people.

Socialism that combines socialist principles with religious or spiritual teachings. It emphasizes social justice, equality, and community based on religious values.

A system where state-owned and controlled means of production are used in a centrally planned economy, aiming to promote social equality and economic justice.

The process of making decisions about how to allocate resources and produce goods and services in an economy.

A system where the means of production are owned and controlled by individuals or private entities.

Socialism, a political and economic system, aims to create a society without social classes by removing the imbalances and conflicts between classes that are inherent in capitalism.

A key aspect of socialism is collective ownership of resources like factories and businesses. This means everyone benefits from the resources, not just a few individuals.

Socialism advocates for a society where the well-being of everyone is prioritized over personal profit.

Socialism emphasizes shared control over resources. This means the community decides how to use resources for the benefit of everyone, not just a select few.

In socialism, the government plays a vital role in planning, regulating, and managing the economy, considering social needs instead of market forces.

Various forms of socialism exist, each with its own vision and plan for achieving a more equal and democratic society.

Socialism's implementation is often influenced by historical events, cultural norms, and the specific conditions of a particular country.

Religious socialists advocate for specific social and economic reforms that align with their religious beliefs.

A French social theorist who believed that scientists and industrialists, due to their expertise, should manage society to ensure economic prosperity and social harmony.

A socio-economic theory that emphasizes the role of class struggle in shaping history, arguing that the working class (proletariat) will eventually overthrow the capitalist class (bourgeoisie).

The idea that a small, dedicated group of individuals should lead the working class in their fight against capitalism and transition to socialism, often used in reference to Lenin's concept.

A socio-economic system where the government controls all aspects of production and distribution, including setting prices and production rates, aiming for equality and social welfare.

The idea that workers should collectively own and control the means of production, like factories and resources, rather than private ownership, to ensure fairness and shared benefits.

The period of rapid industrial growth in Western Europe during the late 18th and early 19th centuries, characterized by wealth concentration, income inequality, and social problems.

A theoretical concept within Marxism that focuses on the conflict between the working class (proletariat) and the capitalist class (bourgeoisie) as the driving force behind historical change.

A combination of free-market capitalism and state intervention, where both the government and private individuals participate in productions and distribution management.

Socialist systems emphasize ensuring access to basic necessities for all members of society, promoting a sense of security and focus.

Socialist economic thinking has played a noticeable role in the Philippines, particularly in addressing worker rights, land reform, and social equality.

Labor and peasant movements advocating for worker rights, land reform, and social equality emerged in the late 19th and early 20th centuries in the Philippines.

Marxist ideas and socialist ideologies gained influence among Filipino intellectuals and activists.

Crisanto Evangelista and Claro M. Recto were influential figures who popularized socialist ideas and implemented Marxist principles in their work in the Philippines.

The Hukbalahap movement, initially an anti-Japanese guerrilla force, transitioned into a communist-led peasant movement focused on social justice.

The Hukbalahap movement gained significant influence in the countryside by addressing issues like poverty, landlessness, and social inequality during the 1940s and 1950s in the Philippines.

In socialism, the government takes a central role in regulating the economy, attempting to prevent dramatic shifts and ensure a stable economic environment.

Socialism aims to minimize income disparities and class-based conflicts by promoting social cohesion and reducing economic inequality.

Socialist systems often feature comprehensive social welfare programs designed to provide essential necessities like food, housing, healthcare, education, and employment to all citizens.

Centralized planning in socialism can struggle to accurately calculate the costs and benefits of production and distribution, leading to potential inefficiencies.

Without the profit motive of capitalism, socialism may face challenges in motivating individuals and fostering innovation. The lack of rewards for individual achievements can impact productivity and creativity.

Government control of economic activities in socialist systems can restrict individual decision-making and entrepreneurship, potentially hindering economic freedom.

Socialism aims to limit market competition, which can lead to fewer consumer options and potentially slower economic growth compared to market-driven economies.

Many capitalist economies, to some extent, now incorporate socialist practices such as social welfare programs and regulations to address social and economic concerns. This reflects a growing acceptance of certain socialist principles within capitalist systems.