Liberal Socialism
Description
From the Wikipedia:
"Liberal socialism is a political philosophy that incorporates liberal principles to socialism. Liberal socialism has been compared to post-war social democracy as it supports a mixed economy that includes both private property and social ownership in capital goods. While social democracy is somewhat anti-capitalist insofar as criticism of capitalism is linked to the private ownership of the means of production, liberal socialism identifies artificial and legalistic monopolies to be the fault of capitalism[5] and opposes an entirely unregulated market economy. It considers both liberty and equality to be compatible and mutually dependent on each other. Liberal socialism is a type of socialism that has been most prominent in the post-war period. For Ian Adams, post-war social democracy and socialist New Labour are examples of liberal socialism, in contrast to classical socialism. However, those two forms of liberal socialism are based on two different economic theories, namely Keynesianism and supply side, respectively. According to Christopher Pierson, "actually existing liberal democracy is, in substantial part, a product of socialist (social democratic) forces". According to Ian Hunt, liberal socialism is an alternative social ideal grounded in both socialist Karl Marx and liberal John Rawls."