What is classical socialism?

Answer 1

"Classical socialism" usually refers to the conception of socialism that emerged in the late-19th century as an economic system that operated according to different economic laws than those that operate in capitalism.

These included the idea of economic planning in place of markets for capital goods, measuring value in physical quantities instead of using money, and public ownership of resources in place of private ownership, along with worker's democratic management in the economy.

"Classical socialism" differed from later developments in the 20th century, especially neoclassical socialism, which included a role for money and prices in a socialist system, and the Soviet-type economic system (sometimes called "actually-existing socialism"), which was meant to be a transitional economy in-between capitalism and pure socialism.