"Almost all industries were the property of individuals. Liberals
and radicals themselves were often property owners and
employers.
Having made their wealth through trade or industrial ventures,
they felt that such effort should be encouraged. That its benefits
would
be achieved if the workforce in the economy was healthy and
citizens were educated. Opposed to the privileges the old
aristocracy had by birth, they firmly believed in the value
of individual effort, labour and enterprise. If freedom of
individuals was ensured, if the poor could labour, and those with
capital could operate without restraint, they
believed that societies would develop
a) Reading the text above infer why socialism appeared a better
form of government to the people of Europe?
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Socialism describes any political or economic theory that says the community, rather than individuals, should own and manage property and natural resources.
The term “socialism” has been applied to very different economic and political systems throughout history, including utopianism, anarchism, Soviet communism and social democracy. These systems vary widely in structure, but they share an opposition to an unrestricted market economy, and the belief that public ownership of the means of production (and making money) will lead to better distribution of wealth and a more egalitarian society.
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