Socialism refers to a system in which production and distribution of goods and services is a shared responsibility of a group of people. Karl Marx developed the theories of socialism. He believed that socialism is the transitional period between capitalism and communism. In a state of socialism, there is no privately owned property. Under Capitalism, manufacturing enterprises dominate the economy but are privately owned and is operated to generate wealth for the owners and only a small fraction of the money is paid to the workers. In socialism, this is turned around so that the class that produces the wealth can together decide how the wealth will be used for the benefit of all. In short, socialism prioritizes human needs and eliminates the profit that drives war, ecological destruction, and inequalities based on gender, race, nationality and sexuality.
Socialism provides equal opportunities to all of the working class. In other words, socialism sees a persons work as a contribution to the great social good. This system tries to even out the great difference between the wages among different classes. One of the basic principles of socialism is that of public ownership and natural resources. If everyone works, everyone will gather the same benefits and prosper equally. Therefore everyone earns equally and receive medical care and other necessities. The idea of socialism is that all individuals should have access to basic articles of consumption and public goods to allow for self-actualization. Large-scale industries are collective efforts and thus the returns from these industries must benefit society as a whole. In socialism, there is freedom of religion, but usually promotes secularism. Secularism is the view that religious considerations should be excluded from civil affairs. From each according to his ability, to each according to his contribution. Emphasis on profit being distributed among the society or workforce to complement individual wages/salaries. All choices, including education, religion, employment and marriage, are up to the individual. All health care and education is provided free to everybody.
True socialists advocate a completely classless society, where government controls all means of production and distribution of goods. Socialists believe that in this control because it is necessary to eliminate competition among the people and put everyone on the same level.
Throughout history socialism has been practiced in various countries, however the country itself has not been declared itself a socialist country. Although there are many countries who are not officially socialist, there are some countries that are declared as socialist, such as: People’s Democratic Republic of Algeria, Republic of Angola, United Republic of Tanzania, Portuguese Republic, People’s Republic of Bangladesh, Democratic Socialist Republic of Sri Lanka, Republic of Mozambique, and Republic of India. China, Cuba, North Korea,...