Question

Write 5 points about Socialist society.​

Answer 1

Explanation:

Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership[1][2][3] of the means of production[4][5][6][7] and workers' self-management of enterprises.[8][9] It includes the political theories and movements associated with such systems.[10] Social ownership can be public, collective, cooperative or of equity.[11] While no single definition encapsulates many types of socialism,[12] social ownership is the one common element.[1][13][14]

Socialist systems are divided into non-market and market forms.[15] Non-market socialism substitutes factor markets and money with integrated economic planning and engineering or technical criteria based on calculation performed in-kind, thereby producing a different economic mechanism that functions according to different economic laws and dynamics than those of capitalism.[16][17][18][19] A non-market socialist system therefore eliminates the inefficiencies and crises traditionally associated with capital accumulation and the profit system in capitalism.[20][21][22][23] The socialist calculation debate, originated by the economic calculation problem,[24][25] concerns the feasibility and methods of resource allocation for a planned socialist system.[26][27][28] By contrast, market socialism retains the use of monetary prices, factor markets and in some cases the profit motive, with respect to the operation of socially owned enterprises and the allocation of capital goods between them. Profits generated by these firms would be controlled directly by the workforce of each firm or accrue to society at large in the form of a social dividend.[29][30][31]

Answer 2

Explanation:

• As per Karl Marx, a socialist society is one in which there is no divide between the rich and poor. He also advocated that people who work for landowners must get the land of their own so that they can produce for themselves.

This can bridge the divide between the haves and have-nots. In a socialist society, workers must have their rights heard and an owner should not treat them with contempt because they are the ones due to which a landowner can own his land. Without their labor and hard work, a landlord cannot be anything.