Socialism
Socialism is the economic theory or system, in which the community owns the means of production, distribution, and exchange collectively, usually through the state. It is characterized by production for use rather than profit, by equality of individual wealth, by the absence of competitive economic activity, and, usually, by government determination of investment, prices and production levels. It is collective because society can control production unlike capitalism and because production is for the common good rather than for individual profit. At the same time it is individual because workers are no longer a large alienated group of people employed by a minority of owners. Work becomes a free and self-affirming activity for each worker and they receive the benefits of the labor. The capitalists no longer control production nor grow rich from other's hard work—everybody is an owner. Socialism in theory means far healthier individuals and human relationships. It means full participation by each individual in the intellectual, cultural and political life of society. For individuals, socialism means an end to economic insecurity and exploitation. It means workers cease to be commodities bought and sold on the labor market and forced to work for someone else. It means a chance to develop all individual's capacities and potentials within a free community. The sole purpose of socialism is to provide for everyone. This is the reason it has been implemented in underdeveloped countries so that the government can provide for all the citizens. Under capitalism the lower class is often left behind. It is for this reason the working class is the biggest supporters of socialism. Socialism ensures that there ar...
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...e 1970's unemployment, inflation, high interest rates, and little economic growth started to arise. Government regulations have impeded industrial growth in favor of protecting its natural setting. This is just one example of government interference.
The British government spends heavily on social services targeted toward lower-income groups. These include housing, health care, education, and pensions. Trough these programs Britain has reduced inequality of income distribution and was one of the most equal democracies in the seventies. One of the most successful of these services was the National Health Service founded in 1948. Its affects were celebrated in the seventies. Such programs are the reasons why Great Britain is in part a socialist nation but at the same time the free market for most of the industry ensure a capitalistic system at the same time.