answersLogoWhite

Top Answer
User Avatar
Wiki User
Answered 2010-08-17 17:13:22

Socialism essentially means the government is responsible for the peoples well being. The most extreme form of socialism is communism, However most advanced societies, be it republics or democracies, have some degree of socialism in there structure. i.e. medicare or welfare in the United States. (Public schools, US postal service, interstate highway construction, and just recently the Public healthcare option)

The problem many people have with the possibility of too much socialism is the fear that there would be less independence and freedom to excel in such a regulated market. so no invisible hand, or "laissez-faire" free market. People also fear that pure socialism curbs ingenuity because there is less motive to be entrepreneurial if you are being taken care of by the government, or if you do not profit from being entrepreneurial.

012
๐Ÿ™
4
๐Ÿคจ
3
๐Ÿ˜ฎ
2
๐Ÿ˜‚
2
User Avatar

Your Answer

Loading...

Still Have Questions?

Related Questions

What is the significance of the closing scene of the jungle?

explains why Sinclair thinks socialism is better than capitalism


What is the significance of communism?

Communism is the socioeconomic political philosophy. It postulates the importance of humans in economic activity. It is a form of socialism.


Why socialism book written by?

socialism


Which came first socialism or communism?

Socialism.


Did Karl Marx support socialism?

He developed a form of socialism which was sometimes called "scientific 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 is the opposite of socialism?

Capitalism is considered the opposite of socialism.


Was communism or socialism first?

It was from Socialism that Communism was born.


Which socialism did Karl Marx subscribe to?

Scientific socialism.


What rhymes with socialism?

There are no perfect rhymes for the word socialism.


Did Plato teach socialism?

No, Plato did not teach 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 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.


Is Socialism an abstract noun?

Yes, Socialism is an abstract noun.


How is socialism used in a sentence?

Socialism is an ineffective government type.


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"


Which defines the ideas of Karl Marx socialism or capitalism?

socialism.


When was Socialism is Good created?

Socialism is Good was created in 1958.


When was Socialism or Barbarism created?

Socialism or Barbarism was created in 2001.


When was Voluntary Socialism created?

Voluntary Socialism was created in 1896.


When was The Future of Socialism created?

The Future of Socialism was created in 1956.


What characteristics and socialism share?

You haven't given what the comparison is with socialism.


What is the best book on socialism?

Dreams from my Father, and The Audacity of Hope are on socialism. While Fatal conceit: the flaws of socialism are against it.


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.