Difference between revisions of "Socialism"
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Socialism is described by this saying: "From each according to his ability, to each according to his needs." Socialism allows private property in the form of wages to workers, but not in the form of ownership of large companies. | Socialism is described by this saying: "From each according to his ability, to each according to his needs." Socialism allows private property in the form of wages to workers, but not in the form of ownership of large companies. | ||
| − | [[Marx, Karl|Karl Marx]] considered socialism to be a transitory stage between capitalism | + | [[Marx, Karl|Karl Marx]] considered socialism to be a transitory stage between capitalism and communism. Under "true communism" the government would cease to exist and all property would be shared by decentralized collectives. |
Socialist parties are extremely common in Europe, for example, [[Tony Blair]] belongs to the Labour Party, a democratic [[socialist]] party<ref>[http://www.labour.org.uk/index.php?id=labourdemocracy]</ref> | Socialist parties are extremely common in Europe, for example, [[Tony Blair]] belongs to the Labour Party, a democratic [[socialist]] party<ref>[http://www.labour.org.uk/index.php?id=labourdemocracy]</ref> | ||
Revision as of 23:33, March 11, 2007
Socialism is an economic system that requires public ownership and government control over the production of goods. Government is supposed to make decisions about what and how much to produce in an attempt to increase the common welfare. Socialism is common in most parts of the world outside of the United States.
Socialism is described by this saying: "From each according to his ability, to each according to his needs." Socialism allows private property in the form of wages to workers, but not in the form of ownership of large companies.
Karl Marx considered socialism to be a transitory stage between capitalism and communism. Under "true communism" the government would cease to exist and all property would be shared by decentralized collectives.
Socialist parties are extremely common in Europe, for example, Tony Blair belongs to the Labour Party, a democratic socialist party[1]