Fabian socialism
Topic: Schools of Economic Thought and Economic Laws · NCERT: Beyond NCERT
Meaning
Fabian socialism is a British movement for a gradual, democratic move towards socialism through reforms, not revolution. It grew out of the Fabian Society (1884), whose leading figures included Sidney and Beatrice Webb and George Bernard Shaw. Fabians worked through laws, public services and persuasion. It matters for India because it shaped Nehru and the LSE-trained Indian elite. It fed into India's choice of planning and a mixed economy.
Example
Nehru's approach reflected Fabian thinking. It set up planned growth and a large public sector, but kept elections, courts and private property. There was no seizure of all private firms.
Don't confuse with
- Marxian (revolutionary) socialism: Marx expected capitalism to be overthrown through class struggle. Fabians wanted to reform it slowly through democratic means.
- Democratic socialism: the wider ideology of reaching socialism through elections. Fabianism is one specific British branch of it.
Related concepts
- Marxian economics
- Historical materialism
- Class struggle
- Surplus value
- Reserve army of labour
- Democratic socialism
- Market socialism
- State capitalism