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A contemporary model for a self-managed, non-market socialism is Pat Devine 's model of negotiated coordination. Negotiated coordination is based upon social ownership by those affected by the use of the assets involved, with decisions made by those at the most localised level of production.he major characteristics of socialism (particularly as conceived by Marx and Engels after the Paris Commune of 1871) are that the proletariat will control the means of production through a workers' state erected by the workers in their interests.
Market Socialism is a term used to define an economic system in which there is a market economy directed and guided by socialist planners, and where prices would be set through trial and error (making adjustments as shortages and surpluses occur) rather than relying on a free price mechanism.istory of Socialism Back to Top Certain elements of socialist thought long predate the socialist ideology that emerged in the first half of the 19th Century. For example, Plato's The Republic and Sir Thomas More's Utopia, dating from 1516, have been cited as including Socialist or Communist ideas.