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.
explains why Sinclair thinks socialism is better than capitalism
Communism is the socioeconomic political philosophy. It postulates the importance of humans in economic activity. It is a form of socialism.
He developed a form of socialism which was sometimes called "scientific 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.
Capitalism is considered the opposite of socialism.
It was from Socialism that Communism was born.
There are no perfect rhymes for the word socialism.
No, Plato did not teach socialism.
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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.
Yes, Socialism is an abstract noun.
Socialism is an ineffective government type.
Socialism is associated with the political left.
"African form of socialism"
Socialism is Good was created in 1958.
Socialism or Barbarism was created in 2001.
Voluntary Socialism was created in 1896.
The Future of Socialism was created in 1956.
You haven't given what the comparison is with socialism.
Dreams from my Father, and The Audacity of Hope are on socialism. While Fatal conceit: the flaws of socialism are against it.
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.