What is a socialist country in simple terms?
A socialist country is a sovereign state in which everyone in society equally owns the factors of production. The four factors of production are labor, capital goods, natural resources and entrepreneurship. In a socialist country, people account for individual needs and social needs.
What does the word socialism actually mean?
Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and democratic control, such as workers’ self-management of enterprises.
What is the definition of socialism in politics?
Socialism. Emeritus Professor of Political Science, Arizona State University, Tempe. Author of Reappraising Political Theory and others. Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live
What are some examples of socialism in the world?
This calls for following socialist models in Scandinavia, Canada, Great Britain and other nations, including single-payer health care, free college tuition and higher taxes on the wealthy. On the other side of the political spectrum, conservative U.S. politicians often label such policies as communist.
Why was socialism a utopian movement at the time?
Because at the time ‘socialism’ was a utopian middle-class movement which appealed not to the working classes but to the educated classes. It consisted of adherents mainly of the ‘Fourierists’ and ‘Owenites’ which had already declined into sects with various quack remedies.
Who was the first person to use the word socialism?
The word “socialism” was coined in the 1830s and it was first used to refer to philosophical or moral beliefs rather than any specific political views. For example, Alexandre Vinet, who claimed to have been the first person to use the term, defined socialism simply as “the opposite of individualism “.