By contrast, market socialism retains the use of monetary prices, factor markets and in some cases the profit motive, with respect to the operation of socially owned enterprises and the allocation of capital goods between them.
A non-market socialist system seeks to eliminate the perceived inefficiencies, irrationalities, unpredictability, and crises that socialists traditionally associate with capital accumulation and the profit system in capitalism.
Non-market socialism substitutes factor markets and often money with integrated economic planning and engineering or technical criteria based on calculation performed in-kind, thereby producing a different economic mechanism that functions according to different economic laws and dynamics than those of capitalism. Socialist systems are divided into non-market and market forms. Socialists disagree on whether government, particularly existing government, is the correct vehicle for change. Different types of socialism vary based on the role of markets and planning in resource allocation, on the structure of management in organizations, and from below or from above approaches, with some socialists favouring a party, state, or technocratic-driven approach. While no single definition encapsulates the many types of socialism, social ownership is the one common element, and is considered left-wing. Social ownership can be public, community, collective, cooperative, or employee. As a term, it describes the economic, political, and social theories and movements associated with the implementation of such systems. Socialism is a political philosophy and movement encompassing a wide range of economic and social systems which are characterised by social ownership of the means of production, as opposed to private ownership.
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