Matt Copeland 3B

Creation and Spread

The founding of Socialism is credited to the philosipher Robert Owen. He believed that the government should have some control over the economy, yet the citizens still had basic rights and freedoms. Socialist economies exist on the fact the governments determine the sole business thus eliminating competition and lowering prices.

The Mixed Economy

Socialism is a medium between the extremes of communism and the unrealistic qualities of capitalism. Many countries walk the line between capitalism and socialism in a system known as a mixed economy.