Question

explain the fundamental ideas of socialism.​

Answer 1

Answer:

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. This means the money made belongs to the people who make the things, instead of a group of private owners.

Answer 2

The fundamental ideas of Socialism

Explanation:

• Socialism is an economic and political system in which the means of production are publicly owned and operated, generally through the government. Thus, it implies an absence of private property. It is opposite to the system of capitalism as the free market is absent in the socialist system and the economy is completely controlled.

• Socialism was against private property, and saw it as the root of all social ills of the time.

• It believed in collective social interests  and the idea of cooperatives.