Socialism

Socialism is an ideology with the core belief that a society should exist in which popular collectives control the means of power, and therefore the means of production. In application, however, the de facto meaning of socialism has changed with time. Although it is a politically loaded term, it remains strongly related to the establishment of an organized working class, created through either revolution or social evolution, with the purpose of building a classless society. It has also, increasingly, become concentrated on social reforms within modern democracies. This concept and the term Socialist also refer to a group of ideologies, an economic system, or a state that exists or has existed.

Opposition and criticisms of socialism; arguments for and against

See main article: Criticisms of Socialism

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A number of thinkers, economists and historians have raised some issues with socialist theory. These individuals include Milton Friedman, Ayn Rand, Ludwig von Mises, Friedrich Hayek, and Joshua Muravchik, to name a few. Most of their objections and critiques seem directed more at a centrally planned economy (not a part of all proposed socialisms), some at socialism and Marxism in general, but because these distinctions are relatively difficult to tease out of their writings, it is probably useful to take them up in a single context.

Related Topics:
Milton Friedman - Ayn Rand - Ludwig von Mises - Friedrich Hayek - Joshua Muravchik - Centrally planned economy

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