Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
Left-wing politics describes the range of political ideologies that support and seek to achieve social equality and egalitarianism, often in opposition to social hierarchy as a whole or certain social hierarchies. Left-wing politics typically involve a concern for those in society whom its adherents perceive as disadvantaged relative to others as well as a belief that there are unjustified inequalities that need to be reduced or abolished through radical means that change the nature of the society they are implemented in. According to emeritus professor of economics Barry Clark, supporters of left-wing politics "claim that human development flourishes when individuals engage in cooperative, mutually respectful relations that can thrive only when excessive differences in status, power, and wealth are eliminated."
A republic, based on the Latin phrase res publica, is a state in which political power rests with the public through their representatives—in contrast to a monarchy.
State capitalism is an economic system in which the state undertakes business and commercial economic activity and where the means of production are nationalized as state-owned enterprises. The definition can also include the state dominance of corporatized government agencies or of public companies in which the state has controlling shares.
A mixed economy is an economic system that accepts both private businesses and nationalized government services, like public utilities, safety, military, welfare, and education. A mixed economy also promotes some form of regulation to protect the public, the environment, or the interests of the state.
The aggravation of the class struggle along with the development of socialism is a component of the theory of Stalinism.
The nature of capitalism is criticized by left-wing anarchists, who reject hierarchy and advocate stateless societies based on non-hierarchical voluntary associations. Anarchism is generally defined as the libertarian philosophy which holds the state to be undesirable, unnecessary and harmful as well as opposing authoritarianism, illegitimate authority and hierarchical organization in the conduct of human relations. Capitalism is generally considered by scholars to be an economic system that includes private ownership of the means of production, creation of goods or services for profit or income, the accumulation of capital, competitive markets, voluntary exchange and wage labor, which have generally been opposed by most anarchists historically. Since capitalism is variously defined by sources and there is no general consensus among scholars on the definition nor on how the term should be used as a historical category, the designation is applied to a variety of historical cases, varying in time, geography, politics and culture.
New Democracy, or the New Democratic Revolution, is a concept based on Mao Zedong's Bloc of Four Social Classes theory in post-revolutionary China which argued originally that democracy in China would take a path that was decisively distinct from that in any other country. He also said every colonial or semi-colonial country would have its own unique path to democracy, given that particular country's own social and material conditions. Mao labeled representative democracy in the Western nations as Old Democracy, characterizing parliamentarianism as just an instrument to promote the dictatorship of the bourgeoisie/land-owning class through manufacturing consent. He also found his concept of New Democracy not in contrast with the Soviet-style dictatorship of the proletariat which he assumed would be the dominant political structure of a post-capitalist world. Mao spoke about how he wanted to create a New China, a country freed from the feudal and semi-feudal aspects of its old culture as well as Japanese imperialism.
Right-libertarianism, also known as libertarian capitalism, or right-wing libertarianism, is a libertarian political philosophy that supports capitalist property rights and defends market distribution of natural resources and private property. The term right-libertarianism is used to distinguish this class of views on the nature of property and capital from left-libertarianism, a type of libertarianism that combines self-ownership with an egalitarian approach to property and income. In contrast to socialist libertarianism, right-libertarianism supports free-market capitalism. Like most forms of libertarianism, it supports civil liberties, especially natural law, negative rights, the non-aggression principle, and a major reversal of the modern welfare state.
Socialist democracy is a political system that aligns with principles of both socialism and democracy. It includes ideologies such as council communism, democratic socialism, social democracy, and soviet democracy, as well as Marxist democracy like the dictatorship of the proletariat. It was embodied in the Soviet system (1922–1991). It can also denote a system of political party organization like democratic centralism, or a form of democracy espoused by Marxist–Leninist political parties or groups that support one-party states. The Socialist Federal Republic of Yugoslavia (1945–1992) styled itself a socialist democracy, as did the People's Republic of Bulgaria (1946–1990) and the Socialist Republic of Romania (1947–1989).
Li Minqi is a Chinese political economist, world-systems analyst, and historical social scientist, currently professor of economics at the University of Utah. Li is known as an advocate of the Chinese New Left and as a Marxian economist.
Authoritarian socialism, or socialism from above, is an economic and political system supporting some form of socialist economics while rejecting political pluralism. As a term, it represents a set of economic-political systems describing themselves as socialist and rejecting the liberal-democratic concepts of multi-party politics, freedom of assembly, habeas corpus and freedom of expression, either due to fear of the counter-revolution or as a means to socialist ends. Several countries, most notably the Soviet Union, China and their allies, have been described by journalists and scholars as authoritarian socialist states.
The primary stage of socialism, introduced into official discourse by Mao Zedong as the initial stage of socialism, is a sub-theory of Chinese Marxist thought which explains why capitalist techniques are used in the Chinese economy. It maintains that China is in the first stage of building a communist society, in a stage where there is private ownership.
Democratic socialism is a left-wing set of political philosophies that supports political democracy and some form of a socially owned economy, with a particular emphasis on economic democracy, workplace democracy, and workers' self-management within a market socialist, decentralised planned, or democratic centrally planned socialist economy. Democratic socialists argue that capitalism is inherently incompatible with the values of freedom, equality, and solidarity and that these ideals can only be achieved through the realisation of a socialist society. Although most democratic socialists seek a gradual transition to socialism, democratic socialism can support revolutionary or reformist politics to establish socialism. Democratic socialism was popularised by socialists who opposed the backsliding towards a one-party state in the Soviet Union and other nations during the 20th century.
Types of socialism include a range of economic and social systems characterised by social ownership and democratic control of the means of production and organizational self-management of enterprises as well as the political theories and movements associated with socialism. Social ownership may refer to forms of public, collective or cooperative ownership, or to citizen ownership of equity in which surplus value goes to the working class and hence society as a whole. There are many varieties of socialism and no single definition encapsulates all of them, but social ownership is the common element shared by its various forms Socialists disagree about the degree to which social control or regulation of the economy is necessary, how far society should intervene, and whether government, particularly existing government, is the correct vehicle for change.
People's democratic dictatorship is a phrase incorporated into the Constitution of the People's Republic of China and the Constitution of the Chinese Communist Party. The premise of the "People's democratic dictatorship" is that the Chinese Communist Party (CCP) and state represent and act on behalf of the people, but in the preservation of the dictatorship of the proletariat, possess and may use powers against reactionary forces. The term forms one of the CCP's Four Cardinal Principles. Implicit in the concept of the people's democratic dictatorship is the notion that dictatorial control by the party is necessary to prevent the government from collapsing into a "dictatorship of the bourgeoisie", a liberal democracy, which, it is feared, would mean politicians acting in the interest of the bourgeoisie. This would be in opposition to the socialist charter of the CCP.
Socialism with Chinese characteristics is a set of political theories and policies of the Chinese Communist Party (CCP) that are seen by their proponents as representing Marxism–Leninism adapted to Chinese circumstances and specific time periods, consisting of Deng Xiaoping Theory, Three Represents, Scientific Outlook on Development, and Xi Jinping Thought. According to CCP doctrine, Xi Jinping Thought is considered to represent Marxist–Leninist policies suited for China's present condition while Deng Xiaoping Theory was considered relevant for the period when it was formulated.
The Chinese Communist Party (CCP) frames its ideology as Marxism adapted to the historical context of China, often expressing it as socialism with Chinese characteristics. Major ideological contributions of the CCP's leadership are viewed as "Thought" or "Theory," with "Thought" carrying greater weight. Influential concepts include Mao Zedong Thought, Deng Xiaoping Theory, and Xi Jinping Thought. Other important concepts include the socialist market economy, Jiang Zemin's idea of the Three Represents, and Hu Jintao's Scientific Outlook on Development.
A socialist state, socialist republic, or socialist country, sometimes referred to as a workers' state or workers' republic, is a sovereign state constitutionally dedicated to the establishment of socialism. The term communist state is often used synonymously in the West, specifically when referring to one-party socialist states governed by Marxist–Leninist communist parties, despite these countries being officially socialist states in the process of building socialism and progressing toward a communist society. These countries never describe themselves as communist nor as having implemented a communist society. Additionally, a number of countries that are multi-party capitalist states make references to socialism in their constitutions, in most cases alluding to the building of a socialist society, naming socialism, claiming to be a socialist state, or including the term people's republic or socialist republic in their country's full name, although this does not necessarily reflect the structure and development paths of these countries' political and economic systems. Currently, these countries include Algeria, Bangladesh, Guyana, India, Nepal, Nicaragua, Sri Lanka and Tanzania.
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