What is Socialism ? Write a short note
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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. It includes the political theories and movements associated with such systems.
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Socialism is an economic and political system. It is an economic theory of social organization. It states 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 workers who make the products, instead of groups of private owners.The former Soviet Union is an example of a socialist system. ... Cuba is an example of a socialist nation. Its economy is state-run, and it lacks a stock exchange. Healthcare and education are all completely managed and administered by the government.
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