Socialism

Socialism for the rich

Definition of socialism


1. a : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods



2. a : a system of society or group living in which there is no private property



b : a system or condition of society in which the means of production are owned and controlled by the state




(Examples) Cuba; North Korea, Venezuela, China; Vietnam; Syria; Sweden

Pros:


  • distributes the wealth more evenly
  • increases workers rights
  • decreases poverty
  • allows for a stable economy
  • many social programs are based on socialism; food stamps, public housing, public health-care, public education


Cons:


  • increased taxes
  • it's not fair