"Social democracy is a political, social, and economic philosophy within socialism[1] that supports political and economic democracy and supports a gradualist, reformist and democratic approach towards achieving socialism, usually under a social liberal framework.[2] In practice, social democracy takes a form of socially managed welfare capitalism, achieved with partial public ownership, economic interventionism, and policies promoting social equality.[3]"
"The ALP identifies with social democracy, emphasizing a commitment to democratic socialism. Its objective is the democratic socialization of industry, production, distribution, and exchange, aiming to eliminate exploitation and other anti-social features in these fields.However, it’s essential to note that while the ALP’s national platform historically included an objective of democratic socialism, this is not necessarily reflected in its current policies1...."
Extract from article from the Financial Times
"The embrace of dirigisme in the west, with the Biden administration setting the pace (“Biden teaches EU a lesson or two on big state ‘dirigisme’”, The Top Line, March 4), has many drivers.However, the elephant in the room is the economic and technological rise of China with the real potential to supplant western economic and technological supremacy..."
