"Social" is an adjective describing living in a community or the desire to be in one. It relates to the way of life, the organisation of human society as well as a sense of belonging to that community.
The textbook definition for Socialism is an economic system where the government plays a central role in the distribution of resources. This system is often referred to as the planned or command economy because the economic activities are centrally planned and directed by the government in power. Market forces play a minimal, if any, role in resource allocation. According to the Marxist-Leninist theory, it is the intermediate stage between Capitalism and Communism. Socialism was initially envisaged as the answer to the shortcomings of capitalism but viewed by most economists as the tragic failure of the 20th century.
It is widely believed that Marx is a father of socialism but in actual fact the honour should be given to Lenin as he was the first world leader to attempt a centrally planned economic system devoid of competition and profit motive.
Socialism is not to be confused with Communism. The latter is based on the opinions of two 19th century German philosophers, Karl Marx and Frederich Engels which were expressed in their publication “The Communist Manifesto” published in 1848. They describe Communism as “Scientific Socialism” and opined that the problems of the world mainly stem from unequal distribution of wealth (in my opinion is very true). To overcome this problem the distinction between the rich and poor must be eliminated, creating a classless society. However, since the rich would not give up their wealth voluntarily, a revolution by the poor is needed and Marx is a believer in revolutions as a means to overthrow the governing capitalists. Therefore, I surmise that; to achieve the ideals of communism requires strong arm tactics as its objectives are not likely to be achieved via diplomatic means. Communism also subscribes to atheism, accusing religion as a tool of the rich to oppress the poor. Because the rights of an individual seem to be absent in Communism, it can be said as the direct opposite of Capitalism which is based on the individual rights to wealth and choice.
Frank Zappa, famously said, “Communism doesn’t work because people like to own stuff.” I agree.
The ideals of Socialism on the other hand aim to achieve the collective wellbeing of society through the values of association, community and cooperation. Some say the roots of modern Socialism can be traced back to the French revolution of 1789 while others say he term Socialist was first used in the early 19th century by the followers of Robert Owen, who wrote and sponsored many socialist projects. Pierre Leroux defines socialism as "the doctrine which would not give up any of the principles of Liberty, Equality, and Fraternity" of the French Revolution. Although the dream of a classless society is part of socialist theory, there was no evidence of any compulsion to achieve it through revolutions. The emphasis was on solidarity and mutual interdependence amongst the members of the society. I am of the opinion that the science of Socialism is not a finished article; it is still full of unresolved issues like for example the detailed role of the state in economic management and the role of Socialism in the democratic process.
Socialist based political entities are often associated with trade unions and the labour movement. Main objectives of these parties are the setting up of a welfare state and the nationalisation of major industries and enterprises. The government’s active role in economic activities is the main thrust of Socialist government policies. It would not be wrong then to say that all of the world governments have Socialist traits in them as it is expected of the government to provide welfare assistance, medical and educational services. It is also not uncommon for major industries especially strategic ones to be government owned and managed. This is even more evident during economic downturns where bankrupt firms (especially banks) are bailed out and taken over by the government. Despite its presence in our socio-economic and political system, the term “Socialist” and “Socialism” is often viewed in contempt with undesirable connotations.
The existence of the rich and poor cannot be eliminated; disparity in wealth will always exist. The war of the classes has been going on for thousands of years and will go on for as long as classes exist. To overcome this predicament, the means to achieve socio-economic justice and equity through effective and efficient management of the economy must be formulated.
Socialism: The Misunderstood Ideology, Part 2 – the Model (WIP, I hope I'll be able to finish it ...)
The textbook definition for Socialism is an economic system where the government plays a central role in the distribution of resources. This system is often referred to as the planned or command economy because the economic activities are centrally planned and directed by the government in power. Market forces play a minimal, if any, role in resource allocation. According to the Marxist-Leninist theory, it is the intermediate stage between Capitalism and Communism. Socialism was initially envisaged as the answer to the shortcomings of capitalism but viewed by most economists as the tragic failure of the 20th century.
It is widely believed that Marx is a father of socialism but in actual fact the honour should be given to Lenin as he was the first world leader to attempt a centrally planned economic system devoid of competition and profit motive.
Socialism is not to be confused with Communism. The latter is based on the opinions of two 19th century German philosophers, Karl Marx and Frederich Engels which were expressed in their publication “The Communist Manifesto” published in 1848. They describe Communism as “Scientific Socialism” and opined that the problems of the world mainly stem from unequal distribution of wealth (in my opinion is very true). To overcome this problem the distinction between the rich and poor must be eliminated, creating a classless society. However, since the rich would not give up their wealth voluntarily, a revolution by the poor is needed and Marx is a believer in revolutions as a means to overthrow the governing capitalists. Therefore, I surmise that; to achieve the ideals of communism requires strong arm tactics as its objectives are not likely to be achieved via diplomatic means. Communism also subscribes to atheism, accusing religion as a tool of the rich to oppress the poor. Because the rights of an individual seem to be absent in Communism, it can be said as the direct opposite of Capitalism which is based on the individual rights to wealth and choice.
Frank Zappa, famously said, “Communism doesn’t work because people like to own stuff.” I agree.
The ideals of Socialism on the other hand aim to achieve the collective wellbeing of society through the values of association, community and cooperation. Some say the roots of modern Socialism can be traced back to the French revolution of 1789 while others say he term Socialist was first used in the early 19th century by the followers of Robert Owen, who wrote and sponsored many socialist projects. Pierre Leroux defines socialism as "the doctrine which would not give up any of the principles of Liberty, Equality, and Fraternity" of the French Revolution. Although the dream of a classless society is part of socialist theory, there was no evidence of any compulsion to achieve it through revolutions. The emphasis was on solidarity and mutual interdependence amongst the members of the society. I am of the opinion that the science of Socialism is not a finished article; it is still full of unresolved issues like for example the detailed role of the state in economic management and the role of Socialism in the democratic process.
Socialist based political entities are often associated with trade unions and the labour movement. Main objectives of these parties are the setting up of a welfare state and the nationalisation of major industries and enterprises. The government’s active role in economic activities is the main thrust of Socialist government policies. It would not be wrong then to say that all of the world governments have Socialist traits in them as it is expected of the government to provide welfare assistance, medical and educational services. It is also not uncommon for major industries especially strategic ones to be government owned and managed. This is even more evident during economic downturns where bankrupt firms (especially banks) are bailed out and taken over by the government. Despite its presence in our socio-economic and political system, the term “Socialist” and “Socialism” is often viewed in contempt with undesirable connotations.
The existence of the rich and poor cannot be eliminated; disparity in wealth will always exist. The war of the classes has been going on for thousands of years and will go on for as long as classes exist. To overcome this predicament, the means to achieve socio-economic justice and equity through effective and efficient management of the economy must be formulated.
Socialism: The Misunderstood Ideology, Part 2 – the Model (WIP, I hope I'll be able to finish it ...)
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