DEFINE SOCIALISM.WHAT ARE THE DIFFERENT TYPES OF SOCIALIST SOCIETIES?EXPLAIN.
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Answers
SOCIALISM-a 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.
SOCIALIST PARTY 1. Co - operative society
2. Communist society
Co- operative society- It is an association of people who produced goods together and divide the profit according to the work done by members
(a) Robert Oven - (party) new harmony - set up in Indiana (USA)
(b) Without government encouragement
(c) Louis Blanc- wanted government to
encourage co operative society
Communist society-The fully developed communist economic system is postulated to develop from a preceding socialist system. Marx held the view that socialism—a system based on social ownership of the means of production—would enable progress toward the development of fully developed communism by further advancing productive technology.
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Question:-
DEFINE SOCIALISM.WHAT ARE THE DIFFERENT TYPES OF SOCIALIST SOCIETIES?EXPLAIN.
Socialism is a populist economic and political system based on public ownership (also known as collective or common ownership) of the means of production. Those means include the machinery, tools, and factories used to produce goods that aim to directly satisfy human needs. Communism and socialism are umbrella terms referring to two left-wing schools of economic thought; both oppose capitalism, but socialism predates the "Communist Manifesto," an 1848 pamphlet by Karl Marx and Friedrich Engels, by a few decades.
In a purely socialist system, all legal production and distribution decisions are made by the government, and individuals rely on the state for everything from food to healthcare. The government determines the output and pricing levels of these goods and service