Abstract
European societies had been developing capitalist institutions for a couple of centuries before — in the first half of the last century — the term capitalism appeared. Thus, the term simply denoted the socio-economic system that already existed. At about the same time the term socialism was also introduced. But it denoted a system which did not exist, which was yet to be created. Of all known social systems, socialism is the only one that exists as a project, not as a fact. A project can be accomplished in different ways or fail to be accomplished at all.
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Notes
B. Horvat, The Political Economy of Socialism (Armonk, NY: Sharpe, 1982), pp. 74–6.
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© 1990 Kurt Dopfer and Karl-F. Raible
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Horvat, B. (1990). Socialism as a Socio-economic System. In: Dopfer, K., Raible, KF. (eds) The Evolution of Economic Systems. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11153-4_17
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DOI: https://doi.org/10.1007/978-1-349-11153-4_17
Publisher Name: Palgrave Macmillan, London
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