the economy Flashcards
What is collectivism?
The belief that society flourishes when humans cooperate in a spirit of partnership rather than in competition with each other.
Collectivism emphasizes collaboration over individualism.
How does collectivism relate to socialism?
It underpins the socialist understanding of the economy, emphasizing cooperation and equality.
Socialism often advocates for collective ownership or regulation of resources.
What is a key argument of a socialist regarding resource utilization?
Resources can be utilized more effectively if they are used in a collective fashion.
This perspective suggests that individual competition can lead to inefficiencies.
What is one benefit of utilizing resources collectively according to socialists?
It will limit resource waste.
This approach aims to maximize efficiency and sustainability in resource management.
