Socialism

  • Socialism is defined as a political and economic system of social organisation, which is based on collective or state ownership of means and mode of production, distribution or exchange of the profit.
  • The three utopian socialists were Robert Owen, Saint Simon and Charles Fourier. After the utopian socialist the most prominent names linked with the theory of socialism were Fredrick Engels and Karl Marx.
  • Socialism is a critique of   Industrial Capitalism.The socialists aim at freeing society from evils of capitalism and at the same time building new society on socialist principles.
  • Main features of socialism areemphasis on society, abolition of private ownership of means of production management of social good, organic unity of society opposition to capitalism, elimination of competition,abolition of private enterprise, promotion of principle of equality and socialist view of the State.
  • Critics are of the opinion that socialism will fail as does not recognize truth of human nature.Socialism aims at abolishing private property. Critics are of the opinion that private property is a great motivation for the people.
  • Critics believe that socialism discourages inventions.India has adopted many socialist goals in its Constitution and Social welfare policies. China prefers market socialism. United States of America being a capitalist country also follows certain socialist principles.
  • Socialist view holds that the aim of the state is to secure a society characterised by social, economic and political Justice, equitable distribution of wealth, means of production and distribution among all the people of society, end of monopolies and prevention of concentration of wealth in few hands.
  • It was to secure socialisation of means of production and distribution, all round development through organised planning and securing of a socially economically and culturally developed, prosperous and egalitarian society.

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  • Q1

    In which of the following manner is Socialism relevant to the world today?

    Marks:1
    Answer:

    All of the Above

    Explanation:

    Today all states show capitalist as well as socialist tendencies be it USA, China or India. Socialism created a base of educated, skilled disciplined labour force in china that made it world market leader in manufacturing.

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  • Q2

    Socialist state is criticized for…

    Marks:1
    Answer:

    Authoritarianism

    Explanation:

    Socialist state encourages curtailment of individual right to property. Hence its is criticized for authoritarianism.

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  • Q3

    Some of the early Utopian socialists were:

    Marks:1
    Answer:

    Thomas More, Charles Fourier, Robert Owen and Saint Simon.

    Explanation:

    Mill, Laski, GDH Cole, barker, hobhouse and Lindsay are the main exponents of the socialism. Utopian socialism is about, socialism achieved by the moral persuasion of capitalists to surrender the means of production peacefully to the people.

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  • Q4

    Socialism, the term indicates…

    Marks:1
    Answer:

    All of the above

    Explanation:

    Socialism is reaction to industrial capitalism. It is an economic theory as it builds its logic of ideas on Marxist concepts of dialectical and historical materialism. It is a political plan for action and change as it seeks to reduce workers exploitation by capitalist.

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  • Q5

    Mention any five features of socialism.

    Marks:6
    Answer:

    The five features of socialism are:-
    i) Emphasis on society than on individual- Development and welfare of the society can only be achieved through unity and cooperation. Socialism subordinates the individual interest for the interest of the society as a whole.
    ii) Organic unity of the society- Socialist believe that individuals are dependent on each other and thus keeping this in mind they should always cooperate with each other.
    iii) Opposition to capitalism- Socialism is opposed to capitalism because capitalism is basically concerned with the principle of profit making and gives less importance for the common good.
    iv) Elimination of competition- Socialism believes in elimination of competition as it is very harmful for the society. Socialists believe that capitalism has caused a rise to anti- social activities in the society.
    v) Equality- Equality is another principle of socialism. The socialists believe that it is only through social equality, justice in the society can be achieved.

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