democratic socialism

"Democratic socialism" merges democratic governance with social ownership of the economy, aiming for greater economic equality and social welfare.

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Definition

(formal, academic)A political system advocating for both democratic governance and social ownership of the means of production.

Democratic socialism seeks to combine political democracy with social ownership of the economy.
Many democratic socialists advocate for policies that ensure public provision of basic human needs.

(formal, academic)An economic model where the means of production are socially owned and controlled, typically aiming for greater economic equality.

Under democratic socialism, the economy is structured to meet human needs rather than generate profits for a few.
Democratic socialism promotes workers' self-management and democratic control of economic institutions.

Terms that have similar or relatively close meanings to "democratic socialism":