Question

Explain the ideology of socialism

Answer 1

An economic and social theory that seeks to maximize wealth and opportunity for all people through public ownership and control of industries and social services.

The general goal of socialism is to maximize wealth and opportunity, or to minimize human suffering, through public control of industry and social services. Socialism is an alternative to capitalism, where the means and profits of production are privately held. Socialism became a strong international movement in the early nineteenth century as the Industrial Revolution brought great changes to production methods and capacities and led to a decline in working conditions. Socialist writers and agitators in the United States helped fuel the labor movement but were often branded as radicals and jailed under a variety of laws that punished attempts to overthrow the government. Although government programs such as Social Security and Welfare incorporate some socialist tenets, socialism has never posed a serious challenge to capitalism in the United States.

Source: http://legal-dictionary.thefreedictionary.com/Socialist+ideologies