What is Socialism? Explain various aspects of socialism.
Answers
Socialism is a range of economic and social systems characterised by social ownership of the means of production and workers' self-management, as well as the political theories and movements associated with them. Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity.
The main features of socialist economy are as follows:
(i) Collective Ownership:
(ii) Economic, Social and Political Equality:
(iii) Economic Planning:
(iv) No Competition:
(v) Positive Role of Government:
(vi) Work and Wages According to Ability and Needs:
A political and economic theory of social organisation which advocates the means of production and exchange should be owned and regulated by the community as a whole. is called socialism .
ASPECTS ARE:
1.Socialism in europe
2.Socialism given support
3.1905.revolution