Socialism Flashcards
Fraternity
The bonds of comradeship between
human beings
Cooperation
Working collectively to achieve
mutual benefits
Capitalism
Goods are produced for profit and
wealth is privately owned.
Common ownership
All are able to benefit from the
wealth of society and to participate
in its running.
Communism
communal organisation of social
existence
Collectivism
Bringing together for the purpose of
common ownership
Evolutionary socialism
A parliamentary route to communism
Marxism
it is inevitable that capitalism will
be replaced by communism
Revisionism
socialism that involves a less radical
view of capitalism and a reformed
view of socialism
Social justice
Redistribution of wealth to limit inequality
Class consciousness
Understanding of social class, how it
defines you and the struggle in history
Historical materialism
Economics defines society, law and culture
Dialectic
Two opposing sides – proletariat
and bourgeoisie
Keynesian Economics
The market should be regulated to prevent turbulence
The Third Way
A merging of capitalism and socialism