Socialism has played a significant role in the political and economic history of Hungary. The first socialist political party in Hungary was the Hungarian Social Democratic Party, which was founded in 1890. The party was banned during the rule of the Austro-Hungarian Empire, but continued to operate underground and played a key role in the Hungarian Revolution of 1918, which resulted in the establishment of a short-lived Hungarian Soviet Republic. After the collapse of this regime, the socialist movement in Hungary was suppressed for much of the interwar period.
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