Socialism is a political and economic system. It is a social organization economic theory. It asserts that workers should own or control the means of creating, transporting, and trading wealth. This implies that the profits go to the employees who manufacture the items, rather than to groups of private owners. Socialism also includes support for equal rights and opportunity for all people.
Socialism is derived from the Greek words society (polity) and share (charis). A socialist society would be one in which the wealth of the country is shared among its citizens. All property would be owned by the government, which would distribute it according to need. There would be no rich or poor because everyone's work is important. The only measure of success would be how much each person contributed to the common good.
In practice, socialism has not worked well. In fact, it has resulted in poverty everywhere it has been tried. Socialist countries are usually poor because they do not have the natural resources that more developed countries do. They cannot produce goods that people want so they must import them. Also, under socialism there is no incentive to make things; this would interfere with politics and distribution of wealth. Finally, there is nothing special about the government owning industry. In modern China and India, the state owns many industries including large companies.
Socialism was popular in the early 20th century but has never been widely accepted again.
Socialism is a political and economic system in which the state owns the means of production (i.e., farms, factories, tools, and raw materials). Socialists believe that everything in society is the result of the people's and citizens' collaborative efforts. Therefore, they believe that the state should own and operate these resources for the good of all its citizens.
Here are some famous socialists: Karl Marx, Friedrich Engels, V. I. Lenin, Joseph Stalin.
Marx and Engels were German philosophers and political theorists who developed an ideology called "scientific socialism." They believed that the problems of poverty and inequality in society could be solved by having the state control the economy. The two men used Marxist theory to explain why working class people would suffer under capitalism—they said it was because of the conflict between their class (the workers) and their social position (as members of the ruling class).
Vladimir Ilyich Ulyanov/Lenin was a Russian revolutionary socialist who designed what would become a highly successful strategy for achieving power—one that would be repeated by many other leaders throughout history—the "vicious circle" or "circle of violence." This means that anyone trying to establish a socialist system would be forced into bloodshed because there would be no way for them to get the government out of the business of fighting wars and protecting businesses.
"Socialism is a political philosophy that advocates for public ownership of all resources." Within a society, the production and distribution of resources are then controlled by members of that society collectively or by the government that represents that society.
Socialism is also called "state socialism" because it involves the existence within a country of a single government system. In practice, however, most countries have a mixture of state and non-state systems, so socialism includes both pure state systems and more hybrid forms of governance.
In theory, every citizen has an equal right to use their time, energy, and resources to play a role in deciding how their community should be run. In reality, not everyone has this right: some people will always have greater access to information, resources, or influence than others. However many people lack these advantages; therefore, socialism requires various mechanisms to ensure that everyone has an opportunity to participate.
In practice, socialism as currently defined by the United States lacks any mechanism by which citizens can force their government to take action. While some power may reside with the people, they can only exercise this power through their representatives, who are ultimately accountable to no one other than themselves.
As such, socialism leaves room for corruption to occur at any level from local officials down to governments themselves.
Socialism is a political, social, and economic ideology that encompasses a variety of economic and social systems that are distinguished by collective ownership of the means of production. Social ownership can take the form of public, communal, cooperative, or equity ownership. A key feature of all forms of socialism is that decision-making on behalf of the organization resides with those who use its services, rather than with an outside body. This may be done through election of members to positions within the organization or through some other process.
In practice, many socialist countries have combined various aspects of socialism together in one system. For example, some have had state ownership of the means of production along with democratic government, others have had both centralized planning and extensive market competition. There has been a wide variety of theories regarding how best to organize society under socialism.
As a political philosophy, socialism is closely associated with communism. Both ideologies propose that the best way to organise society is through organizations controlled by and for the people, without regard to race, gender, religion, class, or any other factor other than ability to contribute. However, while communists seek to establish this model in reality through violent revolution if necessary, socialists believe that it can be achieved more peacefully through democracy and legislation.
It is important to note that not all socialists support central planning: some believe that markets will function better than governments in setting prices and allocating resources across sectors.
Socialism is a political, social, and economic theory that encompasses a variety of economic and social systems typified by social ownership of the means of production and democratic governance, such as worker-owned firms. Advocates believe that through these measures, capitalism can be replaced with a system that is more equitable and efficient.
The concept of socialism has been used to describe various economic and political systems over time. Socialist thinking has emerged from several sources including Marxism, anarchism, and liberal democracy. The term is often used interchangeably with communism but they are not identical doctrines. Socialism is generally defined as a stage in Marxist theory that occurs after capitalism has been overthrown but before communism has been established. Communism is described as a stage in Marxist theory that involves the complete abolition of private property and state power.
In practice, most socialist countries have adopted a mixed economy combining some aspects of capitalism and socialism. As defined in the Soviet Union's Constitution, socialism means "the highest possible degree of socialization". However, since the end of the USSR, many countries have moved away from full-blown socialism.
In addition to being a stage in Marxist theory, socialism is also used to describe other systems when the underlying assumptions are those of capitalism and liberalism. These include social democracies, communal economies, and green socialism.
"Socialism is an economic and political system based on public ownership of the means of production (also known as collective or common ownership)." This is different from state-owned enterprises which is a country's main source of income. Socialist countries include Albania, Argentina, Belarus, Bolivia, Bosnia and Herzegovina, Brazil, Bulgaria, Cuba, Czech Republic, Denmark, Ecuador, Egypt, El Salvador, Finland, France, Germany, Greece, Guatemala, India, Indonesia, Iran, Iraq, Israel, Italy, Japan, South Korea, Laos, Lithuania, Mexico, Morocco, Nicaragua, North Korea, Norway, Poland, Portugal, Russia, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Syria, Thailand, Turkey, Ukraine, United Kingdom, Vietnam.
In a socialist society, the major goal is to provide prosperity for all citizens. The government tries to achieve this by regulating industry and distributing wealth. Social security, health care, education, environmental protection, and other services are all part of a socialist economy.
Only five countries have officially declared themselves as being socialistic: The Soviet Union, China, North Korea, Eritrea, and Mali. However, most Western democracies operate under a mixed system of capitalism and socialism.