What is socialism and what is the difference from capitalism?
Good part of the day, everyone!
If you can remember, last time we talked about monopoly, its differences between in the past and now and its advantages.
Today our topic is socialism and how it differs from capitalism.
Socialism
Let's see what is socialism first...
In general, socialism is a political and economic system in which the means of production and property are owned jointly and are usually under the direction of the state or government. The foundation of socialism is the notion that a more equitable society results from shared or public ownership of resources and means of activity.
If we want to clearly understand it, we should look at some examples too.
Aristocrat Claude-Henri de Saint-Simon was a Frenchman who was among the first socialist utopians. While Saint-Simon did not support public ownership of productive property, he did support public control of property through central planning, wherein engineers, scientists, and businesspeople would foresee societal requirements and focus social energies toward addressing them.
Karl Marx, without a doubt the most significant socialist theorist, did not fully approve of any of the early socialists, despite their inventiveness and commitment to the cause of the working class. Actually, Saint-Simon, Fourier, and Owen were referred to as "utopian" by Marx and Friedrich Engels, their longtime friend and collaborator, in an attempt to disparage their "fantastic pictures of future society" in comparison to their own "scientific" approach to socialism.
For example, a number of well-known socialists were ardent atheists, but others made a clear connection between socialism and religion. In order to establish a society that would meet fundamental human needs, even the rationalist Saint-Simon had advocated for a "new Christianity" that would combine Christian social teachings with contemporary science and business. His adherents made an effort to turn this theory into reality, leading to the creation of the Saint-Simonian cult, sometimes known as "the religion of the engineers."
Socialism in different countries
You might think about this question: "Why do we need socialism? Is it good for our society?"
There are things that we should say why it is useful:
-It creates a system without classes, where equal opportunities are presented to everyone
-It eliminates socioeconomic gaps by distributing resources in an equal fashion
-It creates balance between people within the same community
-It improves the standard of living for those who are struggling
-It encourages skill enhancement
As the coin has its second side, socialism also has its disadvantages:
-Critics argue that socialism allows easy manipulation
-Socialism imposes high taxes on its citizens
-Socialism discourages innovation
-Socialist leaders often try to control what their citizens think
-Socialist economies can suffer from currency issues
Most people think that socialism and capitalism are one thing.
Our answer is: NO!!!
Socialism and capitalism are two different economic systems. In a socialist system, the government owns and controls the means of production, while in a capitalist system, private individuals own and control the means of production.
I think these pictures helped you to clearly differ socialism and capitalism from each other. And you understood which is more necessary for out society.
Thank you for watching us! And wait for our next posts that are coming soon...