What the term socialist implies
Answers
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 and workers' self-management of enterprises.It includes the political theories and movements associated with such systems.Social ownership can be public, collective, cooperative or of equity.While no single definition encapsulates many types of socialism, social ownership is the one common element. It aims to circumvent the inefficiencies and crises traditionally associated with capital accumulation and the profit system in capitalism
Hope it helps you!!
Answer:
The term socialist refers to democratic socialism, i.e. achievement of socialist goals through democratic, evolutionary and non-violent means. Essentially, it means that (since wealth is generated socially) wealth should be shared equally by society through distributive justice, not concentrated in the hands of few, and that the government should regulate the ownership of land and industry to reduce socio-economic inequalities.