Socialism

Question 1

What is the definition of socialism?

Answer 1

The political theory that people and society get more done working in groups rather than individuals.

Question 2

The term ‘collectivism’ underpins socialism by saying that people get more done in groups as opposed to individuals. What are some of the key ideas behind collectivism?

Answer 2

Equality, welfare and common ownership are essential. Human nature suggests we’re social animals that prefer to live in groups and are truly free if we’re a member of a community or society. It’s right on a moral basis and on a practical basis.

Question 3

What are the 3 different types of socialists?

Answer 3

1) Marxists
2) Social Democrats
3) Third Way

Question 4

What are the main views and beliefs of Marxists?

Answer 4

1) They seek absolute equality with a complete abolition of private property and ownership.
2) Everything is commonly owned and there’s a controlled distribution of resources.
3) They divide society into the “have’s” (Bourgeoisie) and the “ have not’s” (Proletariat). Capitalism oppresses the proletariat because they have to sell their labour for minimal gains and is then exploited by the bourgeoisie.
4) Worker’s revolution is needed to overthrow the bourgeoisie, destroy capital, have everything commonly owned and completely eliminate class difference.

Question 5

What are the main views and beliefs of Social Democrats?

Answer 5

1) Rather than abolish capitalism, they want to reform it instead. So it’s ok for capitalism to generate wealth as long as the wealth is fairly distributed.
2) Because of this you should get a mixed economy (which social democrats support) where there’s a mix of private and state ownership within the country.
3) They want to use Keynesian economics where you spend or invest money during an economic recession to boost the economy.
4) State intervention should be limited and targeted only at certain companies who should pay tax via progressive taxation to narrow class differences.
5) Despite this they focus less on class today as class difference tends to be more fluod and there’s a lot more class de-alignment.

Question 6

What are the main views and beliefs of the “Third Way”?

Answer 6

1) This was seen as an alternative to traditional social democracy and use neo-liberal free market economics instead.
2) There is a primacy to have the market over the state.
3) Value of community and social responsibility.
4) A social model should be based on consensus and harmony.
5) The market state will allow competition unlike traditional socialists who believe competition damages the state.