Some of the first great sociological thinkers studied the rise of socialism. The enormous wealth and lavish lifestyles enjoyed by owners contrasted sharply with the miserable conditions of the workers. Modern socialism really began as a reaction to the excesses of uncontrolled industrial capitalism in the 1800s and 1900s. Most experimental utopian communities had the abolition of private property as a founding principle. A utopia has since come to mean an imagined place or situation in which everything is perfect. Thomas More's Utopia, published in 1516, imagined a society with little private property and mandatory labor on a communal farm. Many of the leaders of the French Revolution called for the abolition of all private property, not just the estates of the aristocracy they had overthrown. Early Christian communities believed in common ownership, as did the systems of monasteries set up by various religious orders. Plato, in ancient Greece, suggested a republic in which people shared their material goods. (Map courtesy of Wikimedia Commons)Īs with capitalism, the basic ideas behind socialism go far back in history. The colors indicate the duration that socialism prevailed. This map shows countries that have adopted a socialist economy at some point. The success of labor unions and the government in securing workers’ rights, joined with the high standard of living enjoyed by most of the workforce, made socialism less appealing than the controlled capitalism practiced here. Organized socialism never became powerful in the United States. Key industries are nationalized and directly controlled by the government however, most businesses are privately owned and regulated by the government. Many Eastern European and some South American countries have mixed economies. This could involve situations like profits generated by a company going directly to the employees of the company or being used as public funds (Gregory and Stuart 2003). Market socialism describes a subtype of socialism that adopts certain traits of capitalism, like allowing limited private ownership or consulting market demands. An example of this would be a town collectively owning and managing the businesses on which its residents depend.īecause of challenges in their economies, several of these communist countries have moved from central planning to letting market forces help determine many production and pricing decisions. Other socialists believe control should be decentralized so it can be exerted by those most affected by the industries being controlled. They had the power to tell all businesses what to produce, how much to produce, and what to charge for it. In communist countries like the former Soviet Union, China, Vietnam, and North Korea, the national government exerts control over the economy centrally. The other area on which socialists disagree is on what level society should exert its control. Under this form of socialism, farms, small shops, and businesses can be privately owned but are subject to government regulation. Other socialists believe only essential services such as healthcare, education, and utilities (electrical power, telecommunications, and sewage) need direct control. One extreme believes all but the most personal items are public property. Within socialism, there are diverging views on the extent to which the economy should be controlled. Socialism strives, ideally, to control the economy to avoid the problems inherent in capitalism. Socialists claim that a capitalistic economy leads to inequality, with unfair distribution of wealth and individuals who use their power at the expense of society. The focus in socialism is on benefitting society, whereas capitalism seeks to benefit the individual. To make sure all members of society get their fair share, governments must be able to control property, production, and distribution. Everyone who contributes to the production of a good or to providing a service is entitled to a share in any benefits that come from its sale or use. Under socialism, everything that people produce, including services, is considered a social product. Socialism is an economic system in which there is government ownership (often referred to as “state run”) of goods and their production, with an impetus to share work and wealth equally among the members of a society. The economies of China and Russia after World War II are examples of one form of socialism.
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