Misconception Of Socialism

Improved Essays
Socialism: What It Means Socialism needs to be clearly defined because the meaning of socialism gets confused with many other different classes of economic systems. The main mistake people make about socialism is that people confuse it with communism. Some people even think it is part of a capitalist form of economics. A good example of a socialist government, is the government of Cuba. In Cuba, the government owns the businesses, however the state hires the employees. As stated by Richard Dagger and Terence Ball in their article on Britannica.com about the origins of socialism, “The origins of socialism as a political movement lies in the Industrial Revolution. Its intellectual roots, however, reach back almost as far as recorded thought—even as far as Moses, according to one history of the subject”(5). Socialism reaches …show more content…
Socialism is a capitalist base with a communist control, meaning that individuals may own a company, but the government has more control over the regulations that the business has to follow to provide a more even distribution of goods and wealth to everyone. This extreme government control is good because everyone gets a piece of the luxuries, but it is bad because it starts to eliminate people’s drive to become more successful. The increased regulation may also make it more difficult for smaller family-owned businesses to thrive. This government control causes people to not want to strive as hard to do anything because they are being handed everything, opposite of what drives a capitalistic economy. This is also stated in Michael Howard’s article Basic income, liberal neutrality, socialism, and work, “More appropriate for socialism is distribution . . . . This amounts to a conditional reciprocity principle, and, if the fruits of social labor are to be shared equitably, would seem to entail a right to work but not an unconditional right to

Related Documents

  • Superior Essays

    Jerry Muller talks about how inequality is increasing in a capitalism system due, to the bourgeoisie ruling the free market (Muller). Although, it creates a strong and advanced market it can create inequalities for the working class. However, he goes on by saying that the people have the power to elect the government officials to help address the problem. A capitalist democracy system can help solve these inequalities, but it is up to the people to fix it. As we have discussed there are several negative affects about capitalism, but is socialism better?…

    • 1037 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    People worked really long and laborious hours for generally a small amount of money, which in turn made the factory owners abundantly wealthy. This was unacceptable to Marx. He asserted that the capitalists were only concerned with their profits, therefore no form of social reformation would improve the social inequalities endured by the proletariat. With this being the case, Marx believed that eventually the workers in the factories would realize that they were being exploited, and they would come…

    • 827 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    In a capitalist state few people are benefited. The way of administration is such that there will never be a place for the poor or middle class. A baseless fear is always harbored that if the government gives in to most of the demands of the working class the rich and the high class people will never have a proper place. The capitalist way of thinking is that an economy of a country should always be controlled by the well to do people and the rich. It is only then they feel that their future is in safe hands.…

    • 1587 Words
    • 7 Pages
    Improved Essays
  • Great Essays

    Whilst communism and capitalism are the economic systems in one point, the main difference is the control of production instruments; whether to have collective ownership or private property. In capitalism, owning the instruments of production is free, but it is also very difficult to maintain this ownership because of the constraints to generate revenue in the perfect competition. Whereas production instruments are shared equally in the communist system, so each individual has the right to use common goods and services. Of course, it is not clear the level of sharing equally. Briefly, communism calls for an economic order of sharing the ownership.…

    • 1380 Words
    • 6 Pages
    Great Essays
  • Improved Essays

    Friedman and Social Responsibility of Business Introduction Milton Friedman believed and argued that business people take care of the responsibilities that affect them in their day to day life. However, they don't care the impact their businesses have on the society so long as their market is growing and increasing their profits. The main reason why he argued this is because believing in a reduced impact that the government has and a free-market. He found that government solutions to problems are no better because its solutions are even worse than the problem itself. As a result of his belief, he believed that the government should keep off the businesses activities because of its greed and the quest of people to have access to power.…

    • 1164 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    The struggle is that factory owners doest want to pay a fair salary because if they do that they wouldn’t have gain as much profit as the actually do. The bourgeoisie are only willing to help themselves to acquire more profit and leaving the working class in the same struggle without any way to get out of struggling lifestyle. That’s one reason I agree with Marx and Engels statement about the bourgeoisie and the working…

    • 735 Words
    • 3 Pages
    Improved Essays
  • Superior Essays

    Finally, adversaries of minimum wages argue that this method is not a cure for poverty because in capitalistic societies, businesses tend to react to minimum wage increases by increasing the prices of their goods and services. Therefore, even though minimum wages might not be an advantage to small businesses, the nation as a whole…

    • 1852 Words
    • 8 Pages
    Superior Essays
  • Improved Essays

    Marxism mainly talks about two classes: the ruling class (Bourgeoisie) and subject class (Proletariat). The ruling class would take advantage of the subject class and exploits their work to get profit out of their labour (Haralambos, 1990). The subject class are being exploited by the ruling class as they would do all the work and not get much profit out of it. However, the two classes are co-dependent with one another as the Bourgeoisie need the Proletariat because without them there are no products to make profit out of and the Proletariat need the Bourgeoisie because without them they have no wages and won’t be able to survive (Haralambos, 1990). The superstructure within the main institutions in society are the reason why the Bourgeoisie have power as the superstructure act for the needs of the Bourgeoisie, not the Proletariat (Haralambos, 1990).…

    • 1340 Words
    • 6 Pages
    Improved Essays
  • Superior Essays

    Therefore, capitalism treats people unequally. Marx began putting his theories together during the Industrial Revolution. Due to the Enclosure Acts, many ordinary people were kicked off the lands into the cities, where there was a great amount of factories. Before, people got to keep the profits made by their labor. But now they have jobs that give them less pay, so the owners can get higher profits.…

    • 1629 Words
    • 7 Pages
    Superior Essays
  • Improved Essays

    Globalization, a social transformation that provides cheapest labor and resources for capitalists in order to minimize their costs, seemed emerging as a good strategy for capitalists. However, it may cause "underconsumption" because low wages on labor undermine the desire of buying from people. Hence, the market will be destablized and the capitalists may not make enough profits. Eventually, this cycle will remain inefficient. Since the capitalism is the dominant idea in the world, Karl Marx remained his idea and argument on capitalism in his work, called…

    • 736 Words
    • 3 Pages
    Improved Essays