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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. Traditionally, socialism is on the left wing of the political spectrum. Types of socialism vary based on the role of markets and planning in resource allocation, and the structure of management in organizations.

The socialist political movement includes political philosophies that originated in the revolutionary movements of the mid-to-late 18th century and out of concern for the social problems that socialists associated with capitalism. By the late 19th century, after the work of Karl Marx and his collaborator Friedrich Engels, socialism had come to signify anti-capitalism and advocacy for a post-capitalist system based on some form of social ownership of the means of production. By the early 1920s, communism and social democracy had become the two dominant political tendencies within the international socialist movement, with socialism itself becoming the most influential secular movement of the 20th century. Many socialists also adopted the causes of other social movements, such as feminism, environmentalism, and progressivism. (Full article...)

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Liberal socialism is a socialist political philosophy that incorporates liberal principles. Liberal socialism does not have the goal of completely abolishing capitalism and replacing it with socialism; instead, it supports a mixed economy that includes both private property and social ownership in capital goods.

Although liberal socialism unequivocally favors a mixed market economy, it identifies legalistic and artificial monopolies to be the fault of capitalism and opposes an entirely unregulated economy. It considers both liberty and equality to be compatible and mutually dependent on each other. Principles that can be described as "liberal socialist" are based on the works of philosophers such as Mill, Bernstein, Dewey, Rosselli, Bobbio, Mouffe and Polanyi. Other important liberal socialist figures include Guido Calogero, Gobetti, Hobhouse, Keynes, and Tawney. To Karl Polanyi, liberal socialism's goal was overcoming exploitative aspects of capitalism by expropriation of landlords and opening to all the opportunity to own land. Liberal socialism has been particularly prominent in British and Italian politics.

Liberal socialist's seminal ideas can be traced to John Stuart Mill. Mill theorised that capitalist societies should experience a gradual process of socialisation through worker-controlled enterprises, coexisting with private enterprises. Mill rejected centralised models of socialism, that could discourage competition and creativity, but argued that representation is essential in a free government and democracy could not subsist if economic opportunities were not well distributed, therefore conceiving democracy not just as form of representative government, but as an entire social organisation.


Nasser in 1962

Gamal Abdel Nasser Hussein (15 January 1918 – 28 September 1970) was an Egyptian military officer and politician who served as the second president of Egypt from 1954 until his death in 1970. Nasser led the Egyptian revolution of 1952 and introduced far-reaching land reforms the following year. Following a 1954 attempt on his life by a Muslim Brotherhood member, he cracked down on the organization, put President Mohamed Naguib under house arrest and assumed executive office. He was formally elected president in June 1956.

Nasser's popularity in Egypt and the Arab world skyrocketed after his nationalization of the Suez Canal Company and his political victory in the subsequent Suez Crisis, known in Egypt as the Tripartite Aggression. Calls for pan-Arab unity under his leadership increased, culminating with the formation of the United Arab Republic with Syria from 1958 to 1961. In 1962, Nasser began a series of major socialist measures and modernization reforms in Egypt. Despite setbacks to his pan-Arabist cause, by 1963 Nasser's supporters gained power in several Arab countries, but he became embroiled in the North Yemen Civil War, and eventually the much larger Arab Cold War. He began his second presidential term in March 1965 after his political opponents were banned from running. Following Egypt's defeat by Israel in the Six-Day War of 1967, Nasser resigned, but he returned to office after popular demonstrations called for his reinstatement. By 1968, Nasser had appointed himself prime minister, launched the War of Attrition to regain the Israeli-occupied Sinai Peninsula, began a process of depoliticizing the military, and issued a set of political liberalization reforms. After the conclusion of the 1970 Arab League summit, Nasser suffered a heart attack and died. His funeral in Cairo drew five to six million mourners, and prompted an outpouring of grief across the Arab world. (Full article...)

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