Socialist economists dismiss the term as an apologetic for failures of neoliberal policy and, more fundamentally, their perception of the weaknesses of market allocation.

However in recent decades an alternative Marxist-Leninist economy that exists is the Socialist market economy that has been used by the People's Republic of China, Socialist Republic of Vietnam and historically by the People's Republic of Hungary and the Socialist Federal Republic of Yugoslavia.

The current economic system in China is formally referred to as a Socialist market economy with Chinese characteristics.

In the journal Critique ( Journal of Socialist Theory ), Hillel H. Ticktin argues that the new Soviet rulers found themselves unable to use the market to control and exploit the peasantry and workers.

H. D. Dickinson published two articles proposing a form of market socialism: " Price Formation in a Socialist Community " ( The Economic Journal 1933 ) and " The Problems of a Socialist Economy " ( The Economic Journal 1934 ).

O ' Donnell ( 2003 ) set up a model that could be used as a blueprint for transition economies, and the results suggested that although market socialist models were inherently unstable in the long term, in the short term they would provide the economic infrastructure necessary for a successful transition from Socialist to market economy.

Socialist theories that favored the market date back to the Ricardian socialists, who advocated a free-market combined with state ownership of the means of production.

Although the name is similar, it markedly differs from the socialist market economy and Socialist-oriented market economy, which is practiced within the People's Republic of China and Socialist Republic of Vietnam, respectively.

During the later stages there was talk within top circles that the government should create the Socialist Market Economy ; however, they never reached an agreement of how much socialism and market was to be featured.

The Socialist Republic of Vietnam pursued market-oriented reforms in 1986, resulting in what is officially called a " Socialist-oriented market economy ", a system that utilizes market forces to distribute consumer goods produced by state-run, collectively owned and privately owned enterprises.

* Socialist market economy

* Socialist market economy

# REDIRECT Socialist market economy

He chose the former, starting the Socialist Party's acceptance of the private market economy.

From the 1970s to the 1990s, Michel Rocard's group inside the Socialist Party, known as " les rocardiens ", advocated a re-alignment of French socialism through a clearer acceptance of the market economy, more decentralisation and less state control.

Socialist Party councillor Dave Nellist calls climate change " the outcome of a gigantic market failure " citing a United Nations report.

In an issue of The Socialist headlined " Climate change: ' gigantic market failure '", the Socialist Party calls for " green job creation ", proposing that unemployed construction workers be employed to build " new and affordable housing, insulating existing properties and installing solar panels ".

During 1996, however, the economy collapsed due to the Bulgarian Socialist Party's slow and mismanaged economic reforms and an unstable and decentralised banking system, which led to an inflation rate of 311 % and the collapse of the lev.

Historically, in Socialist systems collectivist economics were carried to their furthest extreme, with a minimum of private ownership and a maximum of planned economy.

Adolf Hitler, believing that " the economy is something of secondary importance ", left the details of the economic National Socialist Programme out of Mein Kampf.

The Industrial Revolution modernized the German economy, led to the rapid growth of cities and to the emergence of the Socialist movement in Germany.

After the fall of Socialist Yugoslavia, the economy experienced several shocks that damaged the local economy.

Socialist intellectuals like Otto Neurath had realised that in a completely socialised economy, prices would not exist and central planners would have to resort to in-kind ( rather than monetary ) economic calculation.

The economy of the former Socialist Federal Republic of Yugoslavia established a system based on market-based allocation, social ownership of the means of production and self-management within firms.

To move the backward economy of Russia towards a more developed economy in which socialism would become possible, the Bolsheviks adopted a policy of mixed economics, from 1921 to 1928, and also created the Union of Soviet Socialist Republics at the end of 1922.

Denazification () was an Allied initiative to rid German and Austrian society, culture, press, economy, judiciary, and politics of any remnants of the National Socialist ideology.

The German Socialist Party ( Deutsch-Sozialistische Partei, DSP ) was created in May 1919 as an initiative of Rudolf von Sebottendorf as a child of the Thule society, and its program was based on the ideas of the mechanical engineer Alfred Brunner ( 1881-1936 )-including socialist ideas like the takeover of the financial sector by the state and cutting back the " interest-based economy ".

Failure to address the economic and social disparities and increasing political awareness of the less-affluent population, as well as indirect intervention and economic funding to the main political groups by both the KGB and the CIA, as part of the Cold War, led to a political polarization under Socialist President Salvador Allende which in turn resulted in the 11 September 1973 coup and the military dictatorship of General Augusto Pinochet, whose 17-year regime was responsible for numerous human rights violations and deep market-oriented economic reforms.

The debate raged in the 1920s and 1930s, and that specific period of the debate has come to be known by economic historians as The Socialist Calculation Debate.

The Nazis initially attempted to form a corporatist economic system like that of Fascist Italy, creating the National Socialist Institute for Corporatism in May 1933, which included many major economists who argued that corporatism was consistent with National Socialism.

The Socialist Republic of Vietnam has adopted a similar model after the Doi Moi economic renovation, but slightly differs from the Chinese model in that the Vietnamese government retains firm control over the state sector and strategic industries, but allows for private-sector activity in commodity production.

However, Russia still lagged far behind the West, and the NEP was felt by Stalin and the majority of the Communist party, not only to be compromising Communist ideals, but also not delivering sufficient economic performance, as well as not creating the envisaged Socialist society.

Due to his attacks against the economic policy of the Socialist government, he gradually aligned himself with prevailing economic liberal opinion, even though it did not correspond with Gaullist doctrine.

Contemporarily, in Hegemony and Socialist Strategy ( 1985 ), Ernesto Laclau and Chantal Mouffe defined hegemony as a political relationship of power wherein a sub-ordinate society ( collectivity ) perform social tasks that are culturally unnatural and not beneficial to them, but that are in exclusive benefit to the imperial interests of the hegemon, the superior, ordinate power ; hegemony is a military, political, and economic relationship that occurs as an articulation within political discourse.

* The Socialist Party ( SP ), in its first years a radical socialist / communist party, a Maoist split from the Communist Party Netherlands, is now a big socialist party, very conservative on economic issues and advocating more socialism, government control but at the same time taking more conservative positions on issues like integration and national identity than the PvdA, generally populist.

During his report at the seventh party congress in 1967, Erich Honecker had called for a return to an orthodox Socialist economic system, away from the recently instituted New Economic System.

" No facts in recent history are established more incontestably … than the numerous cases of murder, assault, and various forms of intimidation for which the National Socialist Party in Germany has been responsible … The organized economic boycott of the Jews is the climax.

When President Mitterrand decided, in 1982 – 1983, to change his economic policy in giving the priority at the struggle against inflation and for a hard currency, Jospin justified his choice in saying the Socialist power open just a " parenthesis ".

Following the Nazi seizure of power in January 1933, Osnabrück saw the implementation of National Socialist economic, political, and social programs.

In its ' essence, Marx's theory stated that economic and political systems went through an inevitable evolution in form, by which the current capitalist system would be replaced by a Socialist state before achieving international cooperation and peace in a " Workers ' Paradise ", creating a system directed by, what Marx called, " Pure Communism ".

Bellamy was a Christian Socialist who " championed ' the rights of working people and the equal distribution of economic resources, which he believed was inherent in the teachings of Jesus.

In the former Yugoslavia, the successor political parties to the League of Communists in Serbia and Montenegro, the Socialist Party of Serbia and the Democratic Party of Socialists of Montenegro have advocated progression towards a free-market economy but also advocated state economic planning of elements of the economy, maintaining social welfare and have advocated significant state influence in the media.

The Socialist Labor Party advocated a two-pronged attack against capitalism, including both economic and political components — trade unions and electoral campaigns.