Socialism

563 Words2 Pages

Socialism

Socialism is a type of economic system, a political movement, and a

social theory. Socialism is based on the idea that governments should own and

control a nation's resources rather than individuals.

Socialism was first used to describe opposition to the free enterprise

and market economies. The Industrial Revolution was the cause of many social

problems. Long work hours, low pay, and poor working conditions caused

Americans to first consider socialism. With government involvement in business,

fairer treatment for all was feasible. Most countries today have socialist

parties, many have socialist governments, and others who are in between have

adopted socialist ideas.

Communism and socialism are often associated together. Socialism is a

stage of government usually leading up to communism. Government must first

control businesses if it is to be considered a communist nation. Democratic

socialists believe some government control is necessary to force people to

become good citizens, but too much can lead to not enough freedoms.

Socialism is seen as an efficient form of government. Capitalism, on

the other hand, leads to unemployment, poverty, business cycles, and conflict

between owners. Through socialism a nations wealth can be distributed more

equally. Socialism is therefore based on cooperation rather than competition.

Socialist believe that by creating an economic plan, farmers, manufacturers,

workers, and governmen...

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