Question

.Explain Karl Marx’s theory of Socialism. 120 words. 9/10 points​

Answer 1

Answer:

The Marxist definition of socialism is that of an economic transition. In this transition, the sole criterion for production is use-value (i.e. direct satisfaction of human needs, or economic demands), therefore the law of value no longer directs economic activity.

Explanation:

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Answer 2

Answer:

Socialism is a political, social and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and workers' self-management of enterprises. It includes the political theories and movements associated with such systems. Social ownership can be public, collective, cooperative, or of equity.[11] While no single definition encapsulates many types of socialism, social ownership is the one common element. Socialists disagree about the degree to which social control or regulation of the economy is necessary; how far society should intervene and whether government, particularly existing government, is the correct vehicle for change.

Explanation:

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