Socialism views on human nature and the economy

Question 1

Socialism key thinkers = ?

Answer 1

-Karl Marx
-Friedrich Engels
-Rosa Luxemburg
-Anthony Crossland
-Beatrice Webb
-Anthony Giddens

Question 2

Socialism branches = ?

Answer 2

-Revolutionary socialists
-Democratic socialists
-Social democrats
-Third way socialists

Question 3

What do revolutionary socialists think about the economy?

Answer 3

Capitalism is corrupt and has to be removed due to it being inefficient and self-destructive.

Question 4

What should the capitalist economy be replaced by according to revolutionary socialists?

Answer 4

It should and will be replaced by an economy based upon the ideal of common ownership .

Question 5

What does Luxemburg think about the economy?

Answer 5

Capitalism is more resilient than Marx gave it credit for. It does need to be destroyed and replaced by an economy which grants workers control. Though this will require determination and solidarity among the proletariat.

Question 6

Common ownership = ?

Answer 6

Common ownership refers to holding assets of an organisation or enterprise indivisibly rather then in the name of a individual member or groups of members.

Question 6

What do social democrats think about the economy?

Answer 6

Capitalist economy will gradually be replaced for one that benefits the workers and is based on common ownership.

Question 7

What does Beatrice Webb say about the economy?

Answer 7

A chaotic capitalist economy will gradually be replace by one which secures for workers the full fruits of their labour, based upon a common ownership of the means of production.

Question 8

Means of production = ?

Answer 8

The generally necessary assets and resources that enable a society to engage in production.

Question 9

Example of means of production = ?

Answer 9

-Natural resources [Oil, Coal, water]
-Labor [physical or mental work]
-Capital [property, products and goods]

Question 10

What is democratic socialist view on the economy?