SOCIALISM

Jena, Bailee, Lucy, and Eli

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.


Socialist Countries

Jesus was the first socialist, the first to seek a better life for mankind. - Mikhail Gorbachev

Pros


  • Social equality
  • Economic equality
  • Medical equality
Cons



  • Higher taxes
  • Less entrepreneurship
  • Big government