What is Socialism?
Socialism is a social and economic system characterised by social ownership of the means of production and co-operative management of the economy, as well as a political theory and movement that aims at the establishment of such a system.
Robert Owen's Socialism
Robert Owen's Socialism was the best economic philosphy, attracting many people because:
- Socialism has social equality
- Socialism has ecomonic equality
- Socialism has medical equality
- Socialism has political equality
Advantages Socialism has over other Philosophies:
- Provides a fair system
- Reduces disparaties
- Provides unity
- Improves standard of living
Places that Practice Socialism:
- New Zealand