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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.


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Chernov in 1917
Viktor Mikhailovich Chernov (Russian: Ви́ктор Миха́йлович Черно́в; December 7 [O.S. January 25], 1873 – April 15, 1952) was a Russian revolutionary and one of the founders of the Russian Socialist-Revolutionary Party. He was the primary party theoretician or the 'brain' of the party, and was more of an analyst than a political leader. Following the February Revolution of 1917, Chernov was Minister for Agriculture in the Russian Provisional Government and advocating immediate land reform. Later on, he was Chairman of the Russian Constituent Assembly. (Full article...)

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