Socialism Flashcards
Fraternity
The bonds of comradeship between human beings.
Co-operation
Working collectively to achieve mutual benefits.
Capitalism
An economic system, organised by the market, where goods are produced for profit and wealth is privately owned.
Common Ownership
Is the common ownership of the means of production so that all are able to benefit from the wealth of society and to participate in its running.
Communism
The communal organisation of social existence based on the common ownership of wealth.
Evolutionary Socialism
A parliamentary route, which would deliver a long-term, radical transformation in a gradual, piecemeal way through legal and peaceful means, via the state.
Marxism
An ideological system, within socialism, that drew on the writings of Marx and Engels and has at its core a philosophy of history that explains why it is inevitable that capitalism will be replaced by communism.
Revisionism
A move to re-define socialism that involves a less radical view of capitalism and a reformed view of socialism.
Social Justice
A distribution of wealth that is morally justifiable and implies a desire to limit inequality.
Class Consciousness
The self-understanding of social class that is a historical phenomenon, created out of collective struggle.
Historical Materialism
Marxist theory that the economic base (the economic system) forms the superstructure (culture, politics, law, ideology, religion, art and social consciousness).
Dialectic
A process of development that occurs through the conflict between two opposing forces. In Marxism, class conflict creates internal contradictions within society, which drives historical change.
Keynesian Economics
Government intervention – can stabilise the economy and aims to deliver full employment and price stability.
