Market socialism and the Vietnam

This thesis aims to examine the theory of market socialism within a historical and theoretical framework, based on the historical development of socialism, and to address the unique implementation of this model in Vietnam. Since the fundamental principles of socialism -equality, public ownership, and the ideal of a classless society- constitute the ideological and historical basis of market socialism, this study approaches market socialism not merely as an economic model, but as an evolutionary stage of socialist thought. Combining socialist principles with market mechanisms, market socialism gained importance in the 20th century as an alternative model in response to the limitations of centralized planning. In 1986, through its Doi Moi reforms, Vietnam developed a hybrid system that sought to effectively utilize market instruments without abandoning state ownership or socialist ideals. In this regard, Vietnam presents a practice that goes beyond the classical socialist model and adds a new dimension to theoretical discussions. Vietnam's experience reveals not only the success potential of market socialism but also its structural challenges, providing important insights into the sustainability of the model.