* A B C D E F G H I J L M N O P Q R S T U V W Y

Market socialism

Market socialism: a political economic theory designed to replace capitalism in which worker-owned firms confront one another, and consumers, in market-competitive fashion.

Source: What is Good? What is Bad? The Value of All Values across Time, Place and Theories’ by John McMurtry, Philosophy and World Problems, Volume I-III, UNESCO in partnership with Encyclopedia of Life Support Systems: Oxford, 2004-11.