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What Is the Central Idea Behind the Political Theory of Socialism? Birth of a Movement. In seeking to understand the central ideas of socialism, it helps to understand the origins of the theory and its original intentions. Public Property. The online Concise Encyclopedia of Economics defines socialism as "a centrally planned economy in which the government controls all means of production." Core Ideals. ... More items...What are the basic beliefs of socialism?
Socialism is an economic and political system where the workers control the means of production, such as machinery or farmland, instead of their bosses. Those people that advocate this cooperative society are called socialists. Another key belief is that goods and services should be produced for the people's use, not for profit.What is the proper definition of socialism?
Definition of socialism. 1 : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods. 2a : a system of society or group living in which there is no private property.What are facts about socialism?
Interesting Socialism Facts: The term 'socialism' was coined by Henri de Saint-Simon, a founder of utopian socialism (along with Robert Owen). Socialism falls between communism and capitalism in terms of beliefs and ideology. The fundamental view of socialism is that man, society, and the universe are equal.