What is socialism? Mention it's four …
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Meghna Thapar 3 years, 3 months ago
“Socialism is an economic organisation of society in which the material means of production are owned by the whole community and operated by representatives of the people, who are responsible to the community according to a general plan, all the members of community being entitled to the benefits from results of such socialised, planned production, on the basis of equal rights.”
There is no complete agreement as to what exactly socialism is. But the definition given by Prof. Dikinson seems to be better. Economist have compared socialism as a hat which has lost its shape because everybody wears it. It has been aptly remarked that “socialism has been called many things and many things have been called socialism”.
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