Liberal socialism | Wikipedia audio article
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Date: 27/11/2018

This is an audio version of the Wikipedia Article:
Liberal socialism

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SUMMARY
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Liberal socialism is a socialist political philosophy that incorporates liberal principles. Liberal socialism does not have the goal of completely abolishing capitalism and replacing it with socialism, but it instead supports a mixed economy that includes both private property and social ownership in capital goods. Although liberal socialism unequivocally favors a mixed market economy, it identifies legalistic and artificial monopolies to be the fault of capitalism and opposes an entirely unregulated economy. It considers both liberty and equality to be compatible and mutually dependent on each other.Principles that can be described as liberal socialist are based on the works of philosophers such as John Stuart Mill, Eduard Bernstein, John Dewey, Carlo Rosselli, Norberto Bobbio, Chantal Mouffe and Karl Polanyi. Other important liberal socialist figures include Guido Calogero, Piero Gobetti, Leonard Hobhouse, John Maynard Keynes and R. H. Tawney. To Polanyi, liberal socialism's goal was overcoming exploitative aspects of capitalism by expropriation of landlords and opening to all the opportunity to own land. Liberal socialism has been particularly prominent in British and Italian politics.Liberal socialism’s seminal ideas can be traced to John Stuart Mill, who theorised that capitalist societies should experience a gradual process of socialisation through worker-controlled enterprises, coexisting with private enterprises. Mill rejected centralised models of socialism that could discourage competition and creativity, but he argued that representation is essential in a free government and democracy could not subsist if economic opportunities were not well distributed, therefore conceiving democracy not just as form of representative government, but as an entire social organisation.