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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. As one of the main ideologies on the political spectrum, socialism is considered as the standard left-wing ideology in most countries. 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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A red rose is often used as a symbol of social democracy
Social democracy is a political ideology of the center-left on the political spectrum. Social democracy is officially a form of evolutionary reformist socialism. Social democracy supports class collaboration as the course to achieve socialism. Social democracy advocates the creation of legal reforms and economic redistribution programs to eliminate economic class disparities between the bourgeoisie and the proletariat. The Frankfurt Declaration of the Socialist International in 1951, attended by many social democratic parties from across the world, committed adherents to oppose Bolshevik communism and Stalinism, and to promote a gradual transformation of capitalism into socialism. Practical modern social democratic policies include the promotion of a welfare state, and the creation of economic democracy as a means to secure workers' rights.


Webb in 1893

Sidney James Webb, 1st Baron Passfield, OM, PC (13 July 1859 – 13 October 1947) was a British socialist, economist, supporter of Stalinism, and reformer, who co-founded the London School of Economics. He was an early member of the Fabian Society in 1884, joining, like George Bernard Shaw, three months after its inception. Along with his wife Beatrice Webb and with Annie Besant, Graham Wallas, Edward R. Pease, Hubert Bland and Sydney Olivier, Shaw and Webb turned the Fabian Society into the pre-eminent politico-intellectual society in Edwardian England. He wrote the original, pro-nationalisation Clause IV for the British Labour Party. (Full article...)

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