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
- China
- Denmark
- Finland
- Netherlands
- Canada