/sci/ - Science & Math

>>3933651
See
>>3933642

Socialism, on the economical spectrum of State's intervention in economic systems, is a concept actualised by Karl Marx. As opposed to Liberal capitalism, socialism supports centraled planning where the capital is owned by the state, where the economic choices are determined by the state and where the number of goods and their prices are also determined by the state (Bouret et Dumas, 2009)

In most western countries, the economic system is based off keynesian economics, where the government is used as a regulator of market's mechanism (Bouret et Dumas, 2009)

Socialism and capitalism are to be distinguished from faschism and communism, which are political ideologies, just like social democracy.

URSS = socialist economy and "communism" experiences (for instance, the low marge of salary variation between workers "chosen by the government, therefore socialist" was influenced by communist ideas "no classes")