Socialism

1. Socialism By: Austin Woodbury and Dakota White

2. What is Socialism? • Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

3. How does socialism work? • In socialism the government controls 98% of everything. The government owns most means of production and they also determine how much resources are used, and they make wages. They also provide social services like education healthcare and welfare. In socialism they have three main goals. 1. the distribution of wealth and economic opportunity equally among people.2. society’s control, through it’s government, of all major decisions about production.3. public ownership of most land, of factories, and of other means of production

4. History

5. History (cont.) In 1918 a Labour party socialism as its main aim for Britain to secure its workers In 1919 the Labour party conference voted and won to arrange “direct industrial action” to “stop capitalist attacks upon the Socialist Republics of Russia and Hungary”

6. Examples of Socialist Economies • Western Europe • Union of soviet socialist republics • India • Peoples republic of China • Socialist federal republic of Yugoslavia • Singapore • Paris Commune • Anarchist Spain

7. Types of Govt. with Socialism

8. Advantages • . Socialism provides all members with their survival needs, creating a stable environment. • Members that cannot participate economically can still impart wisdom emotional support and continuity of experience to the economy.

9. Disadvantages • Since there is no economic advantage to working harder socialist systems provide no inherent incentive to participate . • Since there is very little incentive socialists systems and tend not to be very competetitve • Imrigrants are drawn to socialist countries during times of plenty

10. Works Cited (Cont.)