Socialism

Socialism is both an economic system and a political theory which promotes the social ownership of the means of production. There are many different variations of socialism which differ in the extent to which the state should be involved in the creation of socialist institutions and practices and what role the state should play in controlling the means of production. Modern socialism stems from the 18th century political movement which fought against problems encountered by industrialization and private property ownership. Socialism in the 19th century came to mean any opposition to capitalism, when it evolved into the intent to combat what it sees as capitalist problems by pursuing social ownership. Marx was one of the key thinkers who developed this theory, and the idea of socialism can now refer to libertarian, democratic and religious socialism among other forms of the concept.

External links and references

• "Socialism: Utopian and Scientific" by Friedrich Engels
• "Why Socialism?" by Albert Einstein
• "The Soul of Man under Socialism" by Oscar Wilde
• What Needs to be Done: A Socialist View by Fred Magdoff and Michael D. Yates, Monthly Review
• Cuban Socialism from the Dean Peter Krogh Foreign Affairs Digital Archives