The latest from LuckyBlackCat. Socialism, as a type of economic system, has many interpretations. There are various perspectives on what a socialist economic system is or should be. This video explains a basic definition of a socialist system, and also a basic definition of a capitalist system, and then proceeds to look at eight different interpretations of a socialist system: - social democracy - democratic socialism - libertarian socialism - market socialism - libertarian market socialism - state planned socialism - orthodox Marxist-Leninist concept of socialism - unorthodox Marxist-Leninist concept of socialism This video also explores the debate over whether each of these is or isn’t “real” socialism.