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Socialism and the economy - Coggle Diagram
Socialism and the economy
Revolutionary socialists
Cannot reform capitalism; it needs to be abolished
Capitalism deforms human nature and consciousness
Need equality through the abolition of private ownership and create common wonership
Collective ownership and workers control industry
Democratic socialism
State nationalism
Mixed economy (State + private economy)
Keynes (State can regulate the economy)
Crosland (Social justice)
Redistribute wealth (Taxation)
Third Way
Free market
State intervenes less
Private enterprise to run/ deliver public services (Education)
Public Private Partnerships (PPP´s)
Public Finance Initiatives (PFI´s)
Regulated economy
Grown in the last 30 years
Means tested wealth (income + tax)
Tensions
Revolutionary socialism
Revolutionary socialism is against free market + private property
Democratic socialists
How do you regulate the economy?
Jeremy Corbyn
Third way
Stramer
Similar to neo-liberalism