Socialism - Blocky Mug

Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and workers' self-management of enterprises. It includes the political theories and movements associated with such systems. Social ownership can be public, collective, cooperative or of equity. While no single definition encapsulates many types of socialism, social ownership is the one common element. Socialist systems are divided into non-market and market forms. Non-market socialism substitutes factor markets and money for integrated economic planning and engineering or technical criteria based on calculation performed in-kind, thereby producing a different economi...