Types of Socialism - Market Socialism - Socialist Market Economy

Socialist Market Economy

A socialist market economy refers to the economic systems adopted by the People's Republic of China and Socialist Republic of Vietnam. Although there is dispute as to whether or not these models actually constitute state capitalism, the decisive means of production remain under state-ownership. State enterprises are organized into corporations (corporatization) and operate like private capitalist enterprises. A substantial private sector exists alongside the state sector of the economy, but plays a secondary role usually relegated to the service sector and production of consumer goods.

Examples of socialist market economies include: Socialist market economy with Chinese Characteristics and Socialist-oriented market economy.

Read more about this topic:  Types Of Socialism, Market Socialism

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