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1. The means of production are owned and controlled democratically by the workers, insuring fair treatment of all in the workplace, and the economy is planned to improve standards of living for the entire country instead of generate profit from exploitation of workers. 2. Healthcare, housing, food, electricity, etc. are all provided for free to all citizens of the country, by the state, ensuring quality of life. This improves as the economy completes its goals under the plan. Keep in mind that the CCCP(USSR) and China were never socialist or communist at any point. For more information go to http://www.marxists.org/
Wiki User
∙ 15y ago
Wiki User
∙ 13y agoSocialism is an umbrella term for a number of economic systems that has some similarities, but which can give many different results, depending on how it is managed and on the society in which it is applied.
On one end you have socialist countries like Norway, Sweden and Denmark who are among the most successful societies on the planet both with regards to standard of living, overall social safety, freedom and equality. All three are enlightened democracies with a high standards of human rights. Here the advantage is that you have a strong social security net that makes sure its citizens feel secure and are taken care of should they fall on hard times. These are also counted among the most stable countries in the world.
On the other hand you have countries such as North Korea which technically are socialist countries but which are not democracies by any stretch of the term, and here you see none of the advantages mentioned above.
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