Question

Define Socialism ? What are it's effect in today's society?​

Answer 1

Socialism is an economic and political system. It is an economic theory of social organization. It believes that the means of making, moving, and trading wealth should be owned or controlled by the workers. Socialists believe that everything in society is made by the cooperative efforts of the people and citizens.

In theory, based on public benefits, socialism has the greatest goal of common wealth; Since the government controls almost all of society's functions, it can make better use of resources, labors and lands; Socialism reduces disparity in wealth, not only in different areas, but also in all societal ranks and classes.