Write about impact of socialism in Europe?
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Advantages of socialism relating to social equality include a focus on reducing wealth disparities, unemployment and inflation (through price controls).
Advantages of socialism related to economic planning include an ability to makegood use of land, labor and resources, as well as avoiding excess or insufficient production.
Additional benefits of Socialism: Nationalization of key industries, redistribution of wealth, social security schemes, minimum wages, employmentprotection and trade union recognition rights.
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SOCIALISM is that policy or theory which aims at securing by the action of the central democratic authority a better distribution, and in due subordination thereunto a better production, of wealth than now prevails."
This definition of socialism, taken from the Encyclopedia Britannica, is open to the double criticism of being at once too narrow and too vague. It excludes from socialist ranks anarchists like Elysée Reclus or Kropotkin, who, though they always claimed to be socialists, were actually centralists. On the other hand, it also leaves out the Bolsheviks, whose dictatorship of the minority is the negation, pure and simple, of democracy. Moreover, the definition seems rather vague when we compare it with the statements of principles made by all the social-democratic parties, who, according to a formula derived from Karl Marx, pursue the conquest of political power by the workers and the socialization
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