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Concept
Social democracy
Summary
Social democracy is a political, social, and economic philosophy within socialism that supports political and economic democracy. As a policy regime, it is described by academics as advocating economic and social interventions to promote social justice within the framework of a liberal-democratic polity and a capitalist-oriented mixed economy. The protocols and norms used to accomplish this involve a commitment to representative and participatory democracy, measures for income redistribution, regulation of the economy in the general interest, and social welfare provisions. Due to longstanding governance by social democratic parties during the post-war consensus and their influence on socioeconomic policy in Northern and Western Europe, social democracy became associated with Keynesianism, the Nordic model, the social-liberal paradigm, and welfare states within political circles in the late 20th century. It has been described as the most common form of Western or modern socialism, as well as the reformist wing of democratic socialism.
The history of social democracy stretches back to the 19th-century labour movement. It is a left-wing political ideology that advocates for a peaceful democratic evolution from laissez-faire or crony capitalism towards social capitalism sometimes also referred to as a social market economy. Social democracy opposes the full centralization of an economy as proposed by some socialists. The main difference between social democracy and democratic socialism is that democratic socialism is a political philosophy within socialism, advocating an evolutionary and peaceful transition from capitalism to socialism, using established political processes, as opposed to the revolutionary socialist approach to transition associated with orthodox Marxism. On the other hand, social democracy seeks to improve the lives of people living within a free and democratic society, by having a well regulated market economy.
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