User talk:Saviour Wealth

Advantages of Socialism. Socialism is a socioeconomic belief that stresses the significant of communal involvement in property and wealth distribution. Socialism is a type of economic system that is highly controversial all around the world. In a socialistic society the government owns all of the industries, which means that they completely control them as well. They determine the 4p’s of marketing, thereby having the full authority over the Market The history of socialism has its origins in the French Revolution of 1789 and the changes which it wrought, although it has precedents in earlier movements and ideas. The Communist Manifesto was written by Karl Marx and Friedrich Engels in 1848 just before the Revolutions of 1848 swept Europe, expressing what they termed 'scientific socialism'. In the last third of the 19th century in Europe social democratic parties arose in Europe, drawing mainly from Marxism. The Australian Labor Party was the world's first elected socialist party when the party won the 1899 Queensland state election. The Advantages of Socialism

1. Greater efficiency and Eliminates Greed: Economic efficiency under socialism is greater than under capitalism, the mean of production are not left in the market forces rather they are controlled and regulated by central planning authority towards choose end. The central planning authority makes an exhaustive survey of resource and utilizes them in the most efficient manner. The biggest advantage that comes from socialism is that there is no more greed. No individual person can have much more than the other and businesses are all owned by the government. Money isn’t the driving force in a socialistic society.

2. Credible welfare: in a social economy there is less inequality of income as compared to capitalist economy because of the absence of private ownership of production. In socialist economic system every one works hard and paid as per his skills and ability.another great thing about socialism is that everyone’s needs are completely met. This means that health care is universal, education is free, and food is supplied, as well as clothing and other necessary items to live.

3. Mobilization of Goods: Disasters of all kinds can occur at any time, and when they do, an immense of amount of services and goods are needed in order to ensure that everyone is safe and taken care of. In other types of economies individual people own all of the rights to these goods, and have the right to refuse them for assistance. With socialism, the government has full control of all of these things and can easily mobilize them to the areas that need them the most.

4. Absence of Monopolistic: Practices: one of the benefits of socialism is that it is free from monopolistic practices to be found in a capitalist society. Since under socialism all means of production are owned by the state, the exploitation by the monopolist is absent. Instead of private monopoly, there is state over the productive system but this is operated for the productive system but this is operated for the welfare of the people.

5. High Economic Growth: economic growth is the most important advantage of socialism because because it adopts economic as a means of promoting rapid economic growth. A planned socialist economy functions right according to the plan in a systematic and orderly manners and marches rapidly on the road to economic progress.