Socialist Economy

By:Jorge Alonso

How Do Countries Use The Socialist Economy?

By social ownership and by democratic control of the means of production

Interesting Facts

  • The roots of socialism in America can be traced to the arrival of German immigrants in the 1850's when Marxian socialist unions began to form.
  • Socialism literally sprang from observing the success of capitalism, while believing that conditions for workers could be improved if the control of production were moved from capitalists to the state.