What is socialism?
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Socialism is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.
According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
Furthermore, everything that people produce is in some sense a social product, and everyone who contributes to the production of a good is entitled to a share in it.
Society as a whole, therefore, should own or at least control property for the benefit of all its members.
Socialism is a populist economic and political system based on collective, common, or public ownership of the means of production.
It’s the opposite of capitalism, wherein the country’s trade industries are controlled by private owners rather than the state and resources are supposedly distributed through meritocracy.
Example of Socialism:
Public infrastructure—bridges, roads, electricity, water and sewer systems, and other government infrastructure—is considered socialist.
It is usually owned and operated by the government and paid for by a mix of taxation and user fees.
Fire Protection Services:
Fire protection services and fire departments are socialist programs funded by tax revenue and provided free at the point of use.
Like fire fighting departments, police departments are fully socialized. No one directly pays the police to come out to their house or to patrol the streets. It comes out of general revenue.