The Socialist Labor Party of America (SLP), established in 1876 as the Workingmen's Party, was the oldest socialist political party in the United States and the second oldest socialist party in the world still in existence. Originally known as the Workingmen's Party of America, the party changed its name in 1877 and has operated continuously since that date, although its current existence is tenuous. The party advocates the ideology of "socialist industrial unionism"—belief in a fundamental transformation of society through the combined political and industrial action of the working class organized in industrial unions.