Socialist Ideology

Socialist Ideology

Socialist Ideology

 

Socialist ideology is a political, social, and economic philosophy that includes a range of economic social support. Elements of socialist ideology were discerned in the politics of classical Greek philosophers, Plato and Aristotle. Plato was an idealist, who believed that everything had an ideal form. And, Aristotle believed in looking at the real world and studying it.

 

The history of Socialism

 

The history of socialism has its origins in the 1789 French Revolution and the changes which it brought, although it has precedents in earlier movements and ideas. The Australian Labor Party was the world’s first elected socialist party when it formed government in the Colony of Queensland for a week in 1899.

 

  • Socialism is an economic and political system, an economic theory of social organization
  • It believes that the means of making, moving, and trading wealth should be owned or controlled by the workers
  • This means the money made belongs to the people who make things, instead of a group of private owners
  • Socialist ideology asserts the moral and economic superiority of an economy with these features, especially as compared with capitalism.

 

Socialist Ideology

 

Socialist Ideology, in theory, based on public benefits, socialism has the greatest goal of the commonwealth; Since the government controls almost all of society’s functions, it can make better use of resources, labors, and lands; Socialism reduces the disparity in wealth, not only in different areas but also in all societal ranks and classes.

 

Differences between various political schools

  • Theory and Practice
  • State-directed economy
  • Decentralized planned economy
  • Socialist market economy
  • Utopian socialism
  • Communism and Marxism

 

Socialism in Canada has a long history and along with conservatism and liberalism, is a political force in Canada. Canada’s socialist movement is believed to have originated in Western Canada. The Socialist Labor Party was formed in 1898 in Vancouver.

 

Socialism in the US

 

Socialism in the United States began with utopian communities in the early 19th century such as the Shakers, the activist visionary Josiah Warren, and intentional communities inspired by Charles Fourier. Labor activists, usually British, German, or Jewish immigrants, founded the Socialist Labor Party of America in 1877.

 

 

The downside to Socialism:

 

KEY Points:

  • Disadvantages of socialism include slow economic growth
  • Less entrepreneurial opportunity and competition
  • A potential lack of motivation by individuals due to lesser rewards