Socialism of the 21st century

Socialism of the 21st century (Spanish: socialismo del siglo XXI) (German: Der Sozialismus des 21. Jahrhunderts) is an interpretation of socialist principles first advocated by German sociologist and political analyst Heinz Dieterich and taken up by a number of Latin American leaders. Dieterich argued in 1996 that both free-market industrial capitalism and 20th-century socialism have failed to solve urgent problems of humanity such as poverty, hunger, exploitation of labour, economic oppression, sexism, racism, the destruction of natural resources and the absence of a truly democracy.[1] Socialism of the 21st century has democratic socialist elements, but it also resembles revisionism.[2]

Fernando Lugo (President of Paraguay), Evo Morales (President of Bolivia), Lula da Silva (President of Brazil), Rafael Correa (President of Ecuador) and Hugo Chávez (President of Venezuela) on 29 January 2009

Leaders who have advocated for this form of socialism include Hugo Chávez of Venezuela, Néstor Kirchner of Argentina, Rafael Correa of Ecuador, Evo Morales of Bolivia and Luiz Inácio Lula da Silva of Brazil.[3] Because of the local unique historical conditions, socialism of the 21st century is often contrasted with previous applications of socialism in other countries, with a major difference being the effort towards a more effective economic planning process.[2]