Changes

==Controversy==

==Controversy==

The ideology of '''Socialism''' is subject to a variety of interpretations. From a conservative perspective, Marxist socialism is an economic system whereby the means of production are seized and monopolized by the government sometimes 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 fulfill human potential. In many countries, such as Britain, socialist movements have been built on Christian, democratic 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 perspective, Marxist socialism is an economic system whereby the means of production are seized and monopolized by the government sometimes without compensation to the builders of the [[capital]]. Investments, production, distribution, income, prices, and economic justice are administered by a government [[nomenklatura]] that regulates the transfer of money, goods (including capital goods), and services primarily through taxation, regulation and aggressive institutionalized coercion.

 

However, some socialists reject this description. Democratic socialists advocate a system of governance based on the principles of [[solidarity]], [[equality]] and [[liberty]], viewing these principles as interconnected. They believe increased socio-economic equality is associated with increased practical freedom to fulfill human potential. In many countries, such as Britain, socialist movements have been built on Christian, democratic 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. Though this rosy picture of socialism is appealing to many, it ignres what Hayek called "the road to serfdom."  Though in theory socialism is an idealized, egalitarian form of economics, in practice it means rule by labor bosses who minimize individualism and economic growth in the name of equality and benefits for the working class.

==Key elements==

==Key elements==