Clearly definitions are necessary, but "market socialism" is no oxymoron although I do note "market communism" may be an oxymoron - but this is a different issue.
Market socialism is the only way commuists can overcome capitalism as Western capitalist societies dive deeper and deeper into crisis and contradictions.
Market socialism is the form of activity Engels forshadowed when he described his view of "the course of revolution" [Principles of Commuism - Question 18]. How else can capitalists be expropriated other than by Engels' two techniques - economic competition and compensation?
Market socialism is also necessary for workers to gain the practical experience managing an economy. Before communism when 'each produces according to their ability, and each receives according to their contribution', commodities will still be exchanged on a market.
Of course not all products will be commodities, as under socialism, public services will still exist and even expand. Consequently, under socialism, not all productive activity will be subject to market influences. However, under socialism, the only way the value of a commodity can be finally determined is if its "socially" necessary labour can be realised. This social function of determining socially necessary labour, is essentially a market function.
The whole interplay between socially necessary labour, commodities and exchange value, and the transformation of values into prices - are market issues. This is the core argument of Capital, and is independent of whether surplus value is used for public purpose or for the manufacture of capitalist profit.
Market socialism is now the formal platform of the Communist Party of China (from 14th National Conference), was use to great effect in Yugoslavia before nationalism was exploited to destroy the Federation, and in the guise of self-management, appears to be emerging in Venzuela.
Market socialism is an essential stepping stone from capitalism through socialim to communism.
There is no capitalism in market socialism.
Consequently there is no revisionism and certainly no retreat to capitalism.
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