Question

Key elements of socialism??

Answer 1

Explanation:

Key Elements of Socialism

Community. One core element to every kind of socialist is the assumption that human beings are social creatures. ...

Co-operation. As they interpret human beings as social creatures, socialists have also tended to emphasise the merits of co-operation. ...

Social equality. ...

Class politics. ...

Karl Marx.

Common control.

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Answer 2

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Socialism refers to the government ownership of the means of production, planning by the government and income distribution”-Samuelson.Economic, Social and

• Political Equality:

Under socialism, there is almost equality between rich and poor. There is no problem of class struggle.

• Economic Planning:

Under socialism, government fixes certain objectives. In order to achieve these objectives, government adopts economic planning. All types of decisions regarding the central problems of an economy are taken in the economic plans. There is a Central Planning Authority, who plans for the economy.

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