Socialism Essay - 1354 Words

Socialism Socialism is the economic theory or system, in which the community owns the means of production, distribution, and exchange collectively, usually through the state. It is characterized by production for use rather than profit, by equality of individual wealth, by the absence of competitive economic activity, and, usually, by government determination of investment, prices and production levels. It is collective because society can control production unlike capitalism and because production is for the common good rather than for individual profit. At the same time it is individual because workers are no longer a large alienated group of people employed by a minority of owners. Work becomes a free and self-affirming activity†¦show more content†¦An argument against socialism is because of this lack of a profit motive the society cannot advance. Assuming this statement is true#8230;it really is the point of socialism. Socialisms purpose is not to have an overabundance or su rplus of goods. It is when a surplus occurs when social classes are more defined. Under socialism a lack of profit motive would ensure everyone is getting exactly what he or she needs. Now let us examine if a lack of a profit motive is bad. Let us take a steel worker under a capitalist state. Te steel worker receives zero profit from the work he puts out. The profit he works for goes directly to the owner of the plant, mill, or mine. Why, then, does the worker work? If profit is not his incentive, what is? Most people, in capitalist society, work because they have to. If they didnt work, they couldnt eat. Its that simple. They work, not for profits, but for wages, in order to obtain food, clothing, and shelter. There would be the same impulse to work under socialism#8212;people would work in order to earn a living thus disproving a lack of advancement theory#8230;yet another reason why the working class would support socialism. 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