The Left-Wing Carlist Party (Partido Carlista - PC) is a Spanish political party that emerged in the 1970s as a dramatic ideological shift from the traditional, reactionary right-wing Carlist movement. Under the leadership of Prince Carlos Hugo de Bourbon-Parma, this party modernized the historical tradition of Carlism, moving towards a unique, ideological mixture often referred to as “monarcho-socialism” or, more accurately, a socialist-based monarchy formed by a pact between the “dynasty and the people”.