State-directed socialism can also refer to technocratic socialism—economic systems that rely on technocratic management and technocratic planning mechanisms, along with public ownership of the means of production. A forerunner of this concept was Henri de Saint-Simon, who understood the state would undergo a transformation in a socialist system and change its role from one of "political administration of men, to the administration of things". Elements of state-directed socialist economies include dirigisme, economic planning, state socialism and technocracy. A decentralized planned economy is one where ownership of enterprises is accomplished through various forms of self-management and worker cooperatives in which planning of production and distribution is done from the bottom-up by local worker councils in a democratic manner. This form of socialist economy is related to the political philosophies of libertarian socialism, syndicalism and various forms of communal utopian socialism. Examples of decentralized democratic planning include council communism, individualist anarchism, industrial democracy, participatory economics, Soviet democracy and syndicalism. Market socialism refers to various economic systems that involve either public ownership and management or worker cooperative ownership over the means of production, or a combination of both, and the market mechanism for allocating economic output, deciding what to produce and in what quantity. In state-oriented forms of market socialism where state enterprises attempt to maximize profit, the profits can fund government programs and services eliminating or greatly diminishing the need for various forms of taxation that exist in capitalist systems. Some forms of market socialism are based on neoclassical economic theory, with the aim of attaining pareto efficiency by setting price to equal marginal cost in public enterprises. This form of socialism was promoted by Oskar Lange, Abba Lerner and Fredrick Taylor. Other forms of market socialism are based on classical economics, such as those advocated by Thomas Hodgskin, who viewed interest accumulation, rent and profit as deductions from exchange-value, so that eliminating the capitalist element from the economy would lead to a free market and socialism. The term market socialism has also been applied to planned economic systems that try to organize themselves partially along market-lines while retaining centralized state ownership of capital. Examples of market socialism include economic democracy, the Lange model, liberal socialism, market-oriented left-libertarianism, mutualism the New Economic Mechanism and Ricardian socialism. Other types of market socialist systems such as mutualism are related to the political philosophy of libertarian socialism. A socialist market economy refers to the economic systems adopted by the People's Republic of China and the Socialist Republic of Vietnam.