Get Socialism Assignment Help Here Without Hesitation

Socialism

Socialism is a social, political and economic philosophy that calls for public control or ownership of property rather than private ownership of properties and natural resources. Such public ownership of properties and natural resources includes the means of production That is, the manufacturing of goods that are essential for the use of the common people of the state, that is making the common people entitled to share the overall production equally, for they are produced by production units that are controlled by the general public that is the state. As different philosophies were laid down by philosophers and political thinkers, social ownership could be of different types like public ownership, cooperative ownership, collective ownership or even equity. As there are no unanimously agreed definition of socialism, the most common factor that has been agreed to is the element of social ownership or public control of properties. In addition, the socialist view that visually builds the concept of socialism believes that people do not live in isolation as they are all a social animal, thus they do not work in isolation as well and therefore the goods, services and resources created by men are a social product, making everyone entitled do an equal share of it. In this regard, it is strongly believed that society in overall sense should be owned or controlled by its members, for the benefit of the members.

History of Socialism

Popular belief says that socialism originated as a political movement in the backdrop of the industrial revolution. Why intellectuals even date back socialism to the ideas of Greek philosophers who believed that the society is built by men and women who must have an equal share off properties and resources of the state, note just material wilt but also the intangible resources and services available in the society. Examples of Christian communities practising an equal share of food and essential commodities could be seen through biblical stories thus giving a clear picture of socialism in its nascent stage. Even though such notions are highly debateable and are often rejected by modern philosophers, economist and political thinkers, however there is a common view on its prominent advent as a result of though industrial revolution during the late 18th century when the east European countries saw a rapid economic growth due to flourishing industrial production. Such a booming it cannot be made some families excessively rich quickly while some sank in debt and poverty, thereby creating an economic imbalance in the society, giving rice too a political movement seeking income inequality in the society.

Types of Socialism

Democratic socialism

The concept of democratic socialism is another political movement that strived to achieve the goals of socialism under a democratic system, that’s associating itself closely to social democracy. Democratic socialists advocate the idea of a welfare state that protects and promotes the social and economic well being of the common people. The concept of democratic socialism is majorly based upon equating human rights with that of economic rights, thereby propagating the idea of an equal distribution of wealth, healthcare, educational facilities, Et cetera.

Revolutionary socialism

Revolutionary socialism, another political philosophy within the domain of socialism highlights the need for social revolution in order to change the societal structure. It believes in starting a revolution too overthrow the capitalist mode of production to embrace the socialist mode, however not necessarily driven by violent insurrection but by capturing political power by the common mass, which is the working class, so that the society could be driven by popular or majority choice rather than governed by the capitalist class and their interests.

Libertarian socialism

Libertarian socialism or left libertarianism is another branch of socialism and a political philosophy that however rejects state ownership of properties and means of production, which is quite unusual from the core concept of socialism. It specifically believes in workers' self-management and control over the workplace, thereby abolishing any form of authoritarian institution. Libertarians place their hopes upon decentralised form of direct democracy like trade unions, workers councils, citizens assemblies, et cetera.

Market socialism

Market socialism believes in putting the responsibility over workers cooperative ownership or flexible public ownership, or a combination of both. The state driven form of market socialism focuses on the maximisation of profit of the state-owned enterprises, where the funds are used for government programmes like eliminating stringent taxation and capitalism driven poverty. Market socialism also includes liberal socialism, economic democracy and market oriented left libertarianism.

Green socialism

 Green socialism, also known as Eco socialism or socialist ecology promotes ecology, anti globalisation and green politics. Green socialists strongly believes that globalisation and imperialism is the direct cause for poverty, social exclusion, environmental degradation and war. Therefore, they strictly advocate eliminating capitalism and practising common ownership off the various modes of production, thereby restoring the imbalance of the society.

What is the difference between Socialism and Communism?

The most commonly accepted difference between socialism and communism is that the former believes in democracy and liberty while the latter believes in forming an equal society by administering an authoritarian state, thereby denying casual liberties of the common mass. communism believes in state control of wealth and property of the people in order to achieve greater equality, however often restricting individual liberty. On the other hand, socialism believe in a free society where the individuals shall enjoy their liberties along with controlling their ownerships and means of production.

Advantages of socialism

Among many, some of the most lucrative advantages of socialism are listed below

• Socialism majorly focuses on establishing economic equality in the society, thereby eliminating hidden costs and taxes that people are often forced to pay to survive in the society as a part of it.
• Reduction of poverty is the key aspect of socialism, thereby eliminating capitalism in Certain forms.
• It advocates about the need for universal healthcare facility, in order to improve the general standard of living of the people.
• It advocates free flowing market in the best interest of the consumers, however to be practised under regulation.