What is Socialism?
What is Socialism
Socialism refers to any system in which the production and distribution of goods and services is a shared responsibility of a group of people. Socialism is based upon economic and political theories that advocate for collectivism. In a state of socialism, there is no privately owned property.
Countries Declared As Socialist:
- People’s Democratic Republic of Algeria
- Republic of India
- United Republic of Tanzania
- Republic of Angola
- Portuguese Republic
- People’s Republic of Bangladesh
- Democratic Socialist Republic of Sri Lanka
- Cooperative Republic of Guyana
- Republic of Mozambique