Socialism

Taylor Presley

SocIlism Definition

a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

Understanding Socialism

Developed by Karl Marx

Socialism is the period between capitalism and communism.

Can be in countries as an overall economic system, as healthcare, public education.

Examples of Socialism

  • A bakery pays all staff the same amount of money based on the profitability of the business.
  • Cuba is an example of a socialist nation. Its economy is state run and it lacks a stock exchange. Healthcare and education are all completely managed and administered by the government. Cuba is an example of a socialist nation. Its economy is state run and it lacks a stock exchange. Healthcare and education are all completely managed and administered by the government.

Top 5 Socialist Countries

  1. China
  2. Denmark
  3. Finland
  4. Netherlands
  5. Canada