Socialism places the process of production and the edifices of government in the hands of the people and helps to ensure economic parity between people, eliminating social castes based on income and resources. Socialism is a tool for encouraging and enforcing equality.Continue Reading
Socialism prevents individuals or single groups from accruing enough resources to oppress other groups. It was designed with social equality in mind, intended to serve as a system by which all human beings were provided with security throughout their lives and with the freedom to work and to be supported if they could not. This is achieved by removing executives, managers and other lopsidedly compensated production roles from the industrial structure.
Socialism can be effected either through a government structure or in direct community organization. When a central government is present, more opportunities for enforcement exist, but corruption is a larger potential problem. Without a central government, organization can be a significantly greater challenge but the access people possess to their materials and to determining their own lives is much more direct.
Socialism is distinct from Communism in that it is not predicated on violent upheaval and revolution. Socialism is designed to effect change during long periods and to reshape societies using the democratic process and measured debate.Learn more about Types of Government
A limited democracy is a system of government in which power is only partially in the hands of the general populace. The level of power is identified within a constitution.Full Answer >
A centrally planned economy is characterized as an economic system in which the government dictates and regulates all areas of economic activity, such as trade, labor, distribution, production and health care. A centrally planned economy is also known as a command economy.Full Answer >
In a communist society, private ownership is almost nonexistent; the government owns and controls property, education, agriculture and means of production. The idea of communism was first theorized by Karl Marx in 1848.Full Answer >
The Encyclopaedia Britannica states that communism is an economic system in which private ownership of property and profit-based capitalism are replaced by public ownership and communal control of a society's natural resources and its major means of production. The doctrine of communism is jointly economic and political.Full Answer >