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Socialism is the political and economical theory that advocates the means of
production, wealth, distribution and exchange be owned and regulated by the
community
How does Socialism work?
Socialism doesnt have 1 type to describe itself but rather different variations
that put the practical usage in different ways. There are two different main
types of socialism being Social Democracy and Marxism-Leninism.
Social Democracy gives equal rights and opportunities to all while the state
runs the welfare system and built onto a Capitalist economy.
There are many countries that fall under socialist ideals and still use them to
this day. Here are a few of them.
China
Cuba
Vietnam
Afghanistan
N Korea
Albania
Notable Socialists
Karl Marx
Che Guevara
Helen Keller
Albert Einstein
Bernie Sanders
Pros and cons of socialism
Pros
Every citizen will have access to education and health care. It results to a
classless society. It allows for balance in wealth and earnings. It eradicates
monopolies in corporations.
Cons
It gives the government much if not full control. It demands higher taxes. The
rights of workers might be too much. People have to deal with bureaucracy. It
can result to lack of motivation. It can result to unnecessary spending by the
government.
Socialism Video
https://www.youtube.com/watch?v=OBYmeLBWjeI
But Socialism Isnt the Best Though
Socialism has its basics to support the economy in every way, but it always has
failed or ruined the economy. Well Socialism is a system that doesnt have an
effective and incentive way to direct their economic activity. Due to this, they
really have no way to control or emphasize Socialism. This means that it purely
relies on the actions and the goodwill of the people. However due to our human
nature, no one has any incentive to follow these rules which leads to
possibilities of poverty, capitalism, hierarchy, and the downfall of the country.
Venezuela - A Country in Ruin
Due to this, 74% of all venezuelans has lost over an average of 20 pounds and
constantly declining leading to protests against the government. People have
described Venezuela to be a Socialist Hell
Thank you for your time!
Questions or Comments?