History, asked by sureshsanvi64, 8 months ago

Difference between socialism and nationalism

Answers

Answered by DushyantkaushikKS
0

Explanation:

Among the many political philosophies that center on communal affiliation, socialism and nationalism are probably the most relevant in the contemporary era. They are not only viewed as theories, but also considered as modern phenomena that date back to as early as the 16th century. They are not necessarily contradictory to one another; in fact, these philosophies can co-exist even in a single political or national group. They are the same in that they advocate a sense of community. That is nationalism, promoting distinct identification with a solid political and national entity, and socialism, highlighting the importance of communal property with each member of the group partaking in it equitably. What differentiates them from one another, nevertheless, is their economic impact and flexibility or interdependence when combined with other types of political viewpoints.

Socialism by definition is an economic and political theory advocating for communal ownership and cooperative management of the means of production and allocation of resources. In this system, production is carried out by a free association of workers to directly maximize use-values, through coordinated planning of investment decisions, distribution of surplus, and the means of production. The system employs a method of compensation based on individual merit or the amount of labor one contributes to society. Socialists consider full socialism as a society no longer based on coercive wage-labor, organized on the basis of relatively equal power. Implementation of a socialist system varies from one sub-set to another. Some socialists advocate complete nationalization of the means of production, distribution, and exchange, while others promote state control of capital within the framework of a market economy. Some have implemented the creation of centrally planned economies directed by a state that owns all the means of production; others have instituted various forms of market socialism, combining co-operative and state ownership models with the free market exchange and free price system. However, more liberal socialist sectors deny governmental control and ownership of the economy altogether, and opt for direct collective ownership of the means of production via co-operative workers’ councils and workplace democracy.

Similar questions