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Thus, as he summarised in 1851, “socialism is […] the extinction of poverty, the abolition of capitalism and wage labour, the transformation of property, governmental decentralisation, the organisation of universal suffrage, the effective and direct sovereignty of workers, the balance of economic forces, the substitution of the contractual regime for the legal regime.” Marx Karl Marx was a commentator on French events and a participant in Germany, although at the time Proudhon was far more...