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[[Image:Backrdv12n2.jpg|right|400px|thumb|The caption reads, "Long live the great undefeatable flag of Marx, Engels, Lenin, Stalin!"]]

[[Image:Backrdv12n2.jpg|right|400px|thumb|The caption reads, "Long live the great undefeatable flag of Marx, Engels, Lenin, Stalin!"]]

The ideology of'''Socialism'''is subject to a variety of interpretations. From a conservative perspetive, socialism is an economic system whereby the means of production are seized and monopolized by the government without compensation to the builders of the [[capital]], and where investments, production, distribution, income, prices, and economic justice are administered by a government [[nomenklatura]] that regulate the transfer of money, goods (including capital goods), and services primarily through taxation and regularized and institutionalized aggressive coercion. However, the majority of socialists would reject this description. Democratic socialists advocate a system of governance based on the principles of solidarity, equality and liberty, viewing these principles as interconnected, with increased socio-economic equality associated with increased practical freedom to fulfil human potential. In many countries, such as the United Kingdom, socialist movements have been built on Christian and co-operative bases, embracing the notion that individuals should 'treat others as they would wish to be treated', and arguing that all individuals have a moral responsibility for the welfare of other members of their society. Socialism seeks to prioritize human welfare over other goals, such as profit and wealth accumulation by elites; it views increased redistribution of wealth as vital to securing greater freedom and happiness for the bulk of the people, and deplores the devastating effects of gross inequality on society in terms of increased crime, mental illness, unhappiness and lack of life chances.

The ideology of '''Socialism''' is subject to a variety of interpretations. From a conservative perspetive, socialism is an economic system whereby the means of production are seized and monopolized by the government without compensation to the builders of the [[capital]], and where investments, production, distribution, income, prices, and economic justice are administered by a government [[nomenklatura]] that regulate the transfer of money, goods (including capital goods), and services primarily through taxation and regularized and institutionalized aggressive coercion. However, the majority of socialists would reject this description. Democratic socialists advocate a system of governance based on the principles of solidarity, equality and liberty, viewing these principles as interconnected, with increased socio-economic equality associated with increased practical freedom to fulfil human potential. In many countries, such as the United Kingdom, socialist movements have been built on Christian and co-operative bases, embracing the notion that individuals should 'treat others as they would wish to be treated', and arguing that all individuals have a moral responsibility for the welfare of other members of their society. Socialism seeks to prioritize human welfare over other goals, such as profit and wealth accumulation by elites; it views increased redistribution of wealth as vital to securing greater freedom and happiness for the bulk of the people, and deplores the devastating effects of gross inequality on society in terms of increased crime, mental illness, unhappiness and lack of life chances.

==Key elements==

==Key elements==