Socialism Flashcards
Utopianism
A belief in the unlimited possibilities of human development, typically embodied in the vision of a perfect or ideal society, a utopia
Capitalism
An economic system in which wealth is owned by private individuals or businesses and goods are produced for exchange, according to the dictates of the market
Communism
The principle of the common ownership of wealth, or a system of comprehensive collectivisation; communism is often viewed as ‘Marxism in practice’
Social democracy
A moderate and reformist brand of socialism that favours a balance between the market and the state, rather than the abolition of capitalism
Labourism
A tendency exhibited by socialist parties to serve the interests of the organised labour movement rather than pursue broader ideological goals
Fraternity
Literally, brotherhood; bonds of sympathy and comradeship between and amongst human beings
Cooporation
Working together: collective effort intended to achieve mutual benefit
Egalitarianism
A theory or practice based on the desire to promote equality; egalitarianism is sometimes seen as the belief that equality is the primary political value
Collectivization
The abolition of private property and the establishment of a comprehensive system of common or public ownership, usually through the mechanisms of the state
Progressive taxation
A system of taxation in which the rich pay a higher proportion of their income in tax than the poor
Social class
A social division based on economic or social factors; a social class is a group of people who share a similar socio-economic position
Bourgeoisie
A Marxist term donating the ruling class of a capitalist society, the owners of productive wealth
Proletariat
A Marxist term donating a class that subsists through the sale of its labour power; strictly speaking, the proletariat is not equivalent to the manual working class
Fundamentalist socialism
A form of socialism that seeks to abolish capitalism and replace it with a qualitatively different kind of society
Nationalization
The extension of state or public ownership over private assets industries, either individual enterprises or the entire economy (often called collectivisation)
State socialism
A form of socialism in which the state controls and directs economic life, acting, in theory, in the interests of the people
Mixed economy
An economy in which there is a mixture of publicly owned and privately owned industries
Revolutionist socialism
A form of socialism that has revised its critique of capitalism and seeks to reconcile greater social justice with surviving capitalist forms