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The economic systems of democratic socialism are the closest forms of communism. The main differences are that other socialist and non socialist parties could exist and be part of the government. However, any economy calling itself "socialist" infers that the major means of production is controlled by the government.

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12y ago
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paulbenn

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3y ago

Socialism has no money or prices, hence no economy. No economy can be closely related to Socialism.

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Kennedy D'Amore

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3y ago
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Helmer Homenick

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3y ago
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paulbenn

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3y ago
The World Socialist Movement website
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Zakary Gulgowski

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3y ago
how do you know?

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12y ago

There are two types of economies related to the socialist movement.

The first is the planned economy.

The second is market socialism.

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command

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Alexa Trevino

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command

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10y ago

federal

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Q: What is the economic system that is most closely related to a democracy?
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