Question

What is the basic idea of socialism?

Answer 1

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 government as a whole. This means the money made belongs to the people who make the things, instead of a group of private owners. People who agree with this type of system are called socialists.[1]

How can a society own the means of making wealth? There are two ways socialists answer this question:state (government of the country) or worker-owned cooperatives important belief is that management and sharing are supposed to be based on public interests. Socialists believe that everything in society is made by the cooperative efforts of the people and citizens.[2]

Answer 2

Answer:

Socialism means reducing the gap between rich and poor.

A socialist state aims to abolish all the discriminations in society. It also safeguards and protects the interests of poorand weaker sections of society. The government has taken several steps to achieve socialist ideals,few mentioned below:

1. The empoylers have to pay equal salaries to the workers,no matterwhat is his gender
2. Food grains and many other articles of daily consumption are made available by the government at fair-price shops
3. Many State governments are providing financial help in cases of unemployment or oldaage
4. The government is making an all-out effort for the economy development of the country throught five-year plans