Some words or phrases will include an explanation beyond the definition to provide a more accurate understanding. In such cases, the explanation will be as the word or phrase is commonly
used by socialists and anarchists.
A theory favoring the abolition of the state and all other forms of centralized hierarchy, control, oppression, authoritarianism and exploitation. Anarchists are against the state (goverment) and
Ideas, attitudes and beliefs that oppose the economic system of capitalism. Anti-capitalists believe that capitalism must be replaced with a different economic system ... usually a form socialism.
1.) An economic sytem based on the private
ownership of capital.
2.) An economic system in which investment in and the ownership of the means of producton, distribution, and exchange of wealth is made and maintained chiefly by
private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.
A form of democracy in which the members of a society decide (vote on, form consensus on) policies directly rather than through elected
or appointed representatives.
The theory that the pursuit of your own welfare is the basis of morality.
An exaggerated opinion of your own importance.
An organization formed by several separate groups coming together with each retaining control over its own affairs.
libertarian socialism (also known as social anarchism)
A philosophy within the socialist movement that rejects socialism as centralized state ownership and control. Libertarian socialists are anti-capitalism and aim to distribute wealth and power more equally among all members of society. Direct
democracy is a key component of libertarian socialism.
Libertarian socialists do not equate socialism with planning, state control, or the nationalization of industry although it is
understood that in socialist society (not under socialism) that economic activity will be collectively controlled, managed, planned, and owned by the members of society.
(Economics) A market in which control over the supply of a commodity is in the hands of a small
number of producers and each one can influence prices and effect competitors.
A social class comprising those who do manual labor or work for wages. The working class.
Information that is spread for the purpose of promoting some cause.
Also referred to as the capitalist
ruling class. Those select few individuals whose capital (wealth), power and influence put them in a position where they can control, oppress, and exploit other people through the use of their wealth, power and influence for their own benefit to generate
more profit or to accumulate more capital.
Most ruling class individuals, even though they may receive compensation for work-related activities, are not considered
working class because their primary work-related activities are to increase profits and/or accumulate more capital ... not in the production of goods or providing a service. (Example: senior management, including CEOs, in large
In most cases, the ruling class receive most of their income from the earnings of their accumulated wealth.
Socialism is an economic and social system characterized by social
ownership and democratic control. There are many variations of socialism. However, all socialists are anti-capitalism and advocate for social (common) ownership.
(After the Russian Revolution) A local council, originally elected only by manual workers, with
certain powers of local administration.
State capitalism is described as an economic system in which commercial (for-profit) economic activity is owned and controlled by the state (government), where the means of production are organized and managed by the state.
theory advocating a planned economy controlled by the state, with state ownership of all industry and natural resources.
The income paid to an employee (worker) in exchange for the worker's labor. That labor may be physical or mental. Includes
salaries, commisions, tips, or compensation through contract services.
The purchasing power of money wages. In a simple example: If an employee (worker) received a 2% increase in income and inflation increased by 3%; the employee's
wages will purchase 1% less for goods and services.
Any person whose primary work-related activity is in producing goods or providing a service and is paid a wage, salary, tips, commission, or receives a sum of money for
meeting the requirements of a contract that involves the production of goods or providing a service.
Most of the senior management of large corporations, including CEOs, are not
considered to be in the working class. The primary work-related activities of these individuals is to generate profit and increase capital accumulation ... not in the production of goods or in providing a service.