Socialist democracy

Common card · No. 333657

Socialist democracy, or social democracy in early writings, is a political system that aligns with principles of both socialism and democracy. Democracy is a key component of most schools of thought within socialism, including variants of Marxism, anarchism, and reformism. Democratic socialists and social democrats of various tendencies—including Trotskyist, libertarian, and reformist—have often deemed "socialist democracy" synonymous with either multi-party representative democracy or direct democracy, complemented by economic democracy as worker's control or social ownership of production, such as in the form of worker-owned cooperatives, workers' councils, democratic trade unions, state-owned enterprises, consumer-owned cooperatives and credit unions, or sovereign wealth funds. Liberal socialists, like John Stuart Mill and Robert Dahl, often argue that socialist democracy is a natural extension of representative-democratic principles to the economic realm. On the other hand, Marxist...

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