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. "Socialism." Encyclopædia Britannica. 2006. Encyclopædia Britannica Online. . As an economic system, socialism is usually associated with state or collective ownership of the means of production. This control, according to socialists, may be either direct, exercised through popular collectives such as workers' councils, or it may be indirect, exercised on behalf of the people by the state.

The modern socialist movement had its origin largely in the working class movement of the late-19th century. 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 labour as a commodity.

It is difficult to make generalizations about the diverse array of doctrines and movements that have been referred to as "socialist." The various adherents of contemporary socialist movements do not agree on a common doctrine or program. As a result, the movement has split into different and sometimes opposing branches, particularly between moderate socialists and communists. Since the 19th century, socialists have differed in their vision of socialism as a system of economic organization. Some socialists have championed the complete nationalization of the means of production, or decentralized ownership in the form of cooperatives or workers councils. Others have proposed selective nationalization of key industries within the framework of mixed economies. Stalinists insisted on the creation of Soviet-style command economies under strong central state direction. Others advocate "market socialism" in which social control of property exists within the framework of market economics and private property.

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