This document summarizes different economic systems including market socialism, totalitarian socialism, and debates around market socialism. Market socialism combines elements of socialism and market economies with the aim of creating a fairer society. Totalitarian socialism involves complete government control over the economy and limited individual rights. The debate around market socialism began with arguments about central planning versus markets. Over 50 years, economists discussed the potential for market socialism as an alternative that provides both democracy and economic efficiency. The document also compares democratic socialism to democratic capitalism, noting democratic capitalism may be more economically efficient while they share democratic values.