Project about Socialism

The economic systems include socialism, capitalism and communism. The concept of socialism refers to a group of ideologies, an economic system, or a state that exists or has existed. First of all, the definition of socialism is an ideology with the core belief that a society should exist in which popular collectives control the means of power, and therefore the means of production. However, the history of socialism finds its origins in the France revolution of 1789 and the changes brought about by the Industrial revolution. It includes a wide range of views. Socialism emerged in conjunction with the Industrial Revolution as a means of protecting worker’s rights. As the 19th and 20th centuries progressed, socialism remained a popular and effective form of government worldwide. In this essay I will give some advantages and disadvantages information about socialism.

There are some advantages and disadvantages of Socialism. First, I will take about the advantages of Socialism. Socialism provides all citizens with their survival needs, creating a stable social environment. Also since their basic needs are provided, there is opportunity for citizens to explore non-economically productive pursuits such as pure science, math and the arts. Moreover, a fairer distribution of wealth, like the affluent don't exploit the poor. People get a fair chance in life. Socialists can meet needs of the poor because it provides for equal. Lower people rates of crimes, they are less likely to commit acts of violence against their neighbors or property, also higher overall standard of living and quality of life.

On the other hand Socialism has also disadvantages. First, Socialism might redistribute some of the wealth of the richest members of society yet it does not eliminate poverty. Instead of improving the living standards for all, socialism usually lowers the income of the richest to be nearer the income levels of the poorest. Socialistic systems provide no inherent incentive to participate. This makes socialism internally unstable. Because lack of incentives, socialistic systems tend not to be competitive, making them externally unstable. In addition, lack of opportunities for technological innovation without the ability of individuals to collect a large number of capital and benefits of projects, especially in research and technological development.

To sum up, as I said there are many advantages and disadvantages of socialism. For example, lower people rates of crimes this example the advantage of socialism but the disadvantages of socialism is lowers the income of the richest to be nearer the income levels of the poorest. Socialism defined as a centrally planned economy in which the government controls all means of production. Born of a commitment to remedy the economic and moral defects of capitalism, it has far surpassed capitalism in both economic malfunction and moral cruelty. Yet the idea and the ideal of socialism linger on.