Socialism

Socialism, or the lower stage of socialism, is a mode of production and transitional phase between two other modes of production, capitalism and communism, characterized by workers' ownership of the means of production, achieved through the expropriation of the bourgeoisie by a dictatorship of the proletariat. Socialist economies are based on central economic planning, absence of the profit-motive and collectivization.

The scientific socialist definition of the term, as used by Marxist–Leninists, refers to a particular stage of historical development — specifically the transitional state between the capitalist and communist modes of production (for this reason, it is also known as "the lower stage of communism", although it is generally considered distinct enough from communism to constitute its own separate mode of production). However, the term "socialism" is often misused in broader left-wing discourse to denote public works, welfare programmes and/or small-scale forms of economic planning practiced by capitalist countries.

Characteristics

Origins

Socialism is the first and lower stage of communism which emerges following a revolutionary transition away from capitalism. The contradictions found within the capitalist system provide the basis for socialism as exploitation, market volatility, centralization of capital towards monopoly, etc. grow to an extreme point as a result of the development of productive forces and the gigantic socialization. The proletarian revolution and abolition of private ownership of the means of production resolve one of the fundamental contradictions of the past capitalist society — that between the social character of production and the private capitalist form of appropriation. Socialism brings conformity between the relations of production and their level of development.

See also

• Socialist state
• Dictatorship of the proletariat