answersLogoWhite

0

Tenets of socialism

User Avatar

Wiki User

โˆ™ 2011-02-07 20:23:08

Best Answer

Socialism is a philosophy which opposes capitalism, which merely means opposition to the private ownership of productive capital (also referred to as "bourgeois property"). The simplest form is syndicalism, which is the belief that productive capital should be managed democratically by those who work it, but there are many other forms

Here's an example to better illustrate socialism and how it differs from capitalism.

In capitalism, a wealthy investor (called a capitalist) buys a widget factory. He employs a person to work at building widgets in his factory and pays the worker a fixed amount (called a wage). Profit (that is, revenue minus expenses+worker wages) goes directly to the capitalist.

Socialists oppose this system, and here's why; let's say that a worker can build one widget an hour. The widget requires $100 worth of material to build. The worker is paid $10 for that hour of work. At the end of the hour, the worker has produced a widget, which the capitalist sells for, say $150. The capitalist has therefore made a profit of $150-$100-$10=$40

To a socialist, this is highly unjust. Since the materials used to create the widget cost only $100 dollars, this means that $50 of the final value comes from the work done by the worker. However, the worker has only received $10 for his work! The capitalist receives the rest (the $40, which socialists call surplus value.)

Socialists believe that this is exploitative. The capitalist, who has done no work to build the widget, has stolen a large chunk of the value of the worker's work, merely because he owns the factory. In fact, socialists believe the exploitation of this relationship is so grievous as to be tantamount to wage slavery.

Socialists wish to change this relationship by removing the capitalist from the equation. One method, the aforementioned syndicalism, fixes this by having the workers collectively own the factory. Since there is no capitalist to accumulate profit, each worker would get the full value of his or her work.

Another system which is important to mention is "state socialism". This is the system we see in places such as the Soviet Union, where the government owns all productive capital. Many socialists, quite understandably, oppose this system. In fact, many socialists refer to this not as "state socialism", but as "state capitalism", since they view this merely as another form of capitalism, with the exploitation of the private capitalist replaced by exploitation by the government acting as a capitalist.

I hope this answered your question, at least somewhat.

User Avatar

Wiki User

โˆ™ 2011-02-07 20:23:08
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: Tenets of socialism
Write your answer...
Submit
Related questions

Which was the body of ideas forming the basic tenets of modern socialism and communism?

Marxism


What are some great ending statements for a college essay?

...and that, sir or madam, is why I respect the tenets of National Socialism.


Major tenets of ecocentric ethics?

Major tenets of Ecocentric Ethics?


How do you properly use tenets in a sentence?

The tenets of the club regulated their actions.


How many rentention tenets?

retention missions include how many tenets


Why socialism book written by?

socialism


Did Karl Marx support socialism?

He developed a form of socialism which was sometimes called "scientific socialism".


What is the three basic tenets of science?

There are no three basic tenets of science. Whoever claims that there are is a charlatan.


Which came first socialism or communism?

Socialism.


What are the most important differences between state socialism and market socialism?

Market socialism should be contrasted with a planned economy, or planned socialism. Market socialism involves the use of markets and prices for determining how to use and allocate factors of production among organizations. These organizations may be state-owned or co-operatively owned; so market socialism can be a type of state socialism. State socialism is contrasted with co-operative socialism. In state socialism, the means of production are owned and managed by a public body. In contrast, cooperative socialism involves ownership of the means of production by the employees or by councils of consumer co-operatives. It is possible to have state-market socialism and cooperative-market socialism. Likewise, it is possible to have cooperative-planned socialism and state-planned socialism.


What does crypto socialism m ean?

fake socialism.


Was communism or socialism first?

It was from Socialism that Communism was born.


Did Plato teach socialism?

No, Plato did not teach socialism.


Which socialism did Karl Marx subscribe to?

Scientific socialism.


What rhymes with socialism?

There are no perfect rhymes for the word socialism.


What types of economic systems exist throughout the world today?

capitalism, communism, socialism, and market economy capitalism, communism, socialism, and market economy capitalism, communism, socialism, and market economy capitalism, communism, socialism, and market economy capitalism, communism, socialism, and market economy capitalism, communism, socialism, and market economy capitalism, communism, socialism, and market economy


What counties practice socialism?

Generally, countries with people practice socialism. However there are countries with people who do not practice socialism. A country without people will never practice socialism as there is no social aspect.


What were some tenets of the Greaser culture?

There are many tenets of the greaser culture. Examples of some of the tenets of the greaser culture include having a greased-back hairstyle and being primarily in the white ethnic youth subculture.


What is definition of market socialism?

There can be no such thing. Socialism means the abolition of the wages system and of production for sale. Socialism has no classes, no money, no markets.


How can socialism be used in a sentence?

Socialism is associated with the political left.


The African form of socialism was based on what?

"African form of socialism"


When was Socialism or Barbarism created?

Socialism or Barbarism was created in 2001.


When was The Future of Socialism created?

The Future of Socialism was created in 1956.


When was Voluntary Socialism created?

Voluntary Socialism was created in 1896.


When was Socialism is Good created?

Socialism is Good was created in 1958.

Study guides

๐Ÿ““
Create a Study Guide