• @Don_alForno@feddit.org
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    121 month ago

    It’s an element of a planned economy which has been more commonly used in authoritarian socialist countries but isn’t exclusive to them.

    (Fun fact because I just looked it up: There doesn’t seem to be one generally accepted definition of “socialism”.)

    • zqps
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      31 month ago

      Worker ownership of the means of production.

      I.e. profits from goods and services go to those who provide them rather than investors.

      • @ILikeBoobies@lemmy.ca
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        1 month ago

        Social ownership (public) of production, doesn’t have to be the workers

        State capitalism exists though, ROK and CCP are the more famous examples

        • zqps
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          1 month ago

          No it’s not. Socialism is compatible with economic and political systems beyond communism. Sorry, but you don’t know what you are talking about.

    • @CheeseNoodle@lemmy.world
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      21 month ago

      I’d say a good loose definition is just ‘people pooling resources for the common good’ so basically all taxes and things paid for by taxes including the military.