Table of Contents
Citizens in a socialist society rely on the government for everything, from food to healthcare. Proponents of socialism believe that it leads to a more equal distribution of goods and services and a more equitable society. Examples of socialist countries include the Soviet Union, Cuba, China, and Venezuela.
The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government.
In socialism, inequality of wages may remain, but that will be the only inequality. Everyone will have a job and work for a wage and some wages will be higher than others, but the highest paid person will only get five or 10 times as much as the lowest paid – not hundreds or even thousands of times more.
Is the United States a socialist or capitalist country?
The U.S. is a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces economic freedom when it comes to capital use, but it also allows for government intervention for the public good.
What’s bad about socialism?
Socialism is bad because it is condescending. When people work and produce they have the means to buy what they wish-monetary payments for work are merely a means of exchange for people to trade goods and services. If you provide a good or service that few people value, you are paid less.
Socialism is dangerous for many reasons, it gives unchecked power to the state, removes freedoms, and destroys the economy. With socialism, it causes all production to be regulated by the state, as well as attempting at creating equality through distribution.
Socialism is an economic and governmental system where the workers own and run companies. Its goal is to have the industries make money which can be used for the benefit of everyone.
Socialism is a system that shares economic output equally throughout the population . It values the collective well-being of the community, rather than individuals. The government distributes resources, giving it greater control over its citizens. There are eight different kinds of socialism, each with their own priorities and economic styles.