article on socialism
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Answers
Political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Explanation:
The term socialism refers to any system in which the production and distribution of goods and services is a shared responsibility of a group of people. Socialism is based upon economic and political theories that advocate for collectivism. In a state of socialism, there is no privately owned property.Social democracy is a kind of socialism that tries to mix parts of socialism with capitalism. ... For example, education, health care, housing, utility companies and public transportation are some industries that might be owned/supported by the government in a socialist system.
Answer:
INTRODUCTION :
Socialism is a range of economic and social systems characterised by social ownership of the means of production and workers' self-management, as well as the political theories and movements associated with them.Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity.
ADVANTAGES :
Under socialism, workers are no longer exploited because they own the means of production. Profits are spread equitably among all workers according to their individual contribution.
But the cooperative system also provides for those who can't work. It meets their basic needs for the good of the whole society.
The system eliminates poverty. It provides equal access to health care and education. No one is discriminated against.
Everyone works at what one is best at and what one enjoys. If society needs jobs to be done that no one wants, it offers higher compensation to make it worthwhile.
Natural resources are preserved for the good of the whole.
DISADVANTAGES :
The biggest disadvantage of socialism is that it relies on the cooperative nature of humans to work. It ignores those within society who are competitive, not cooperative. Competitive people tend to seek ways to overthrow and disrupt society for their own gain. Capitalism harnesses this "Greed is good" drive. Socialism pretends it doesn't exist.
As a result, socialism doesn't reward people for being entrepreneurial. It struggles to be as innovative as a capitalistic society.
A third disadvantage is that the government has a lot of power. This works as long as it represents the wishes of the people. But government leaders can abuse this position and claim power for themselves.
Eight Types of Socialism:
There are eight types of socialism. They differ on how capitalism can best be turned into socialism.
They also emphasize different aspects of socialism. Here are the major branches, according to "Socialism by Branch."
Democratic Socialism:
The means of production are managed by the working people, and there is a democratically elected government. Central planning distributes common goods, such as mass transit, housing, and energy, while the free market is allowed to distribute consumer goods.
Revolutionary Socialism:
Socialism will emerge only after capitalism has been destroyed. "There is no peaceful road to socialism." The factors of production are owned by the workers and managed by them through central planning.
Libertarian Socialism:
Libertarianism assumes that the basic nature of people is rational, autonomous, and self-determining. Once the strictures of capitalism have been removed, people will naturally seek a socialist society that takes care of all, free of economic, political, or social hierarchies. They see it is the best for their own self-interest.
Market Socialism:
Production is owned by the workers. They decide how to distribute among themselves. They would sell excess production on the free market. Alternatively, it could be turned over to society, which would distribute it according to the free market.
Green Socialism:
This type of socialistic economy highly values the maintenance of natural resources. Public ownership of large corporations achieves this. It also emphasizes public transit and locally sourced food. Production focuses on making sure everyone has enough of the basics instead of consumer products one doesn't really need.
This kind of economy guarantees a livable wage for everyone.
Christian Socialism:
Christian teachings of brotherhood are the same values expressed by socialism.
Utopian Socialism:
This was more a vision of equality than a concrete plan. It arose in the early 19th century, before industrialization. It would be achieved peacefully through a series of experimental societies.
Fabian Socialism:
This type of socialism was extolled by a British organization in the late 1900s. It advocated a gradual change to socialism through laws, elections, and other peaceful means.