Socialism is an economic philosophy which develops as an answer to the different problems presented by capitalism. Advocates of this philosopy claim that unchecked capitalism only deals with short-term goals, such as making profit, so long-term plans in infrastructure, workers, environment, among others, are not considered. Different varieties of socialism tend to strongly disagree with one another, but they all agree on the fact that capitalism, if left unchecked, constitutes a great danger to the economy of a country.
Leninism is a political theory developed by <em>Vladimir Lenin</em>, which comprises both political and economic theories, developed from Lenin's interpretation of Karl Marx's theories. He proposed the organization of a <em>Revolutionary Vanguard Party </em>and the achievement of a Dictatorship of the Proletariat as a prelude to the establishment of socialism. His idea involved turning the working classes against their class enemies.
Social Democracy is a political, social and economic theory that supports interventions to promote social justice. Social democracy originated as a peaceful transition from capitalism to socialism. This theory is associated with Keynesian economics - which advocates the intervention of the government in market economy, state interventionism, and the welfare state. It praises commitment to fighting inequality, oppression of underpriviledged groups, and poverty.
