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Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to social control. [1] As an economic system, socialism is usually associated with state or collective ownership of the means of production. This control may be either directly exercised through popular collectives, or it may be indirectly exercised on behalf of the people by the state.
The modern socialist movement had its origins largely in the working class movement of the late-19th century, although certain elements of what is typically thought of as socialism long predate the rise of the workers movement (see: Thomas More's Utopia). In this period, the term "socialism" was first used in connection with European social critics who condemned capitalism and private property. For Karl Marx, who helped establish and define the modern socialist movement, socialism implied the abolition of markets, capital, and of labor as a commodity.
It is difficult to make generalizations about the diverse array of doctrines and movements that have been referred to as "socialist", because socialists have differed in their vision of socialism as a system of economic organization practically from the time of it's inception. The various adherents of contemporary socialist movements do not necessarily agree on a singular common doctrine or program. As a result, the original socialist movement has split into different and sometimes opposing branches. Perhaps the most notable divide exists between moderate socialists and communists. Some socialists have championed the complete nationalization of the means of production, or decentralized ownership in the form of cooperatives or workers councils. Stalinists insisted on the creation of Soviet-style command economies under strong central state direction, or a centrally planned economy. Some branches include aspects of capitalism, such as market socialism, in which social control of property exists within the framework of market economics and private property. Others have proposed selective nationalization of key industries within the framework of mixed economies.
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