13 Facts About Socialism


Socialism is a left-wing economic philosophy and movement encompassing a range of economic systems characterized by the dominance of social ownership of the means of production as opposed to private ownership.

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Socialism contrasted with the liberal doctrine of individualism that emphasized the moral worth of the individual whilst stressing that people act or should act as if they are in isolation from one another.

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Socialism is attributed in France to Marie Roch Louis Reybaud while in Britain it is attributed to Owen, who became one of the fathers of the cooperative movement.

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Socialism used it to defend the Bolshevik program from Marxist criticism that Russia's productive forces were not sufficiently developed for communism.

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Socialism sought a society in which each person was ranked according to his or her capacities and rewarded according to his or her work.

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Socialism's key focus was on administrative efficiency and industrialism and a belief that science was essential to progress.

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Socialism observed that as capitalism had further developed in Europe and America, the workers remained unable to gain class consciousness so long as they were too busy working to pay their expenses.

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Socialism therefore proposed that the social revolution would require the leadership of a vanguard party of class-conscious revolutionaries from the educated and politically active part of the population.

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Socialism issued a thesis outlining the Bolshevik programme, including rejection of any legitimacy in the provisional government and advocacy for state power to be administered through the soviets.

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Socialism argued that central planners, regardless of their intellectual capacity, would be unable to coordinate effectively all economic activity within an economy because they operated without the input and tacit knowledge embodied by the participation of the millions of people in the economy.

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Tucker noted that the fact that the authoritarian "State Socialism has overshadowed other forms of Socialism gives it no right to a monopoly of the Socialistic idea".

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Socialism is known for his roles in helping to found gay organisations, including the Mattachine Society, the first sustained gay rights group in the United States which in its early days reflected a strong Marxist influence.

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Socialism has been criticised in terms of its models of economic organization as well as its political and social implications.

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