Socialism

DR. SHAHNAZ PERVIN

Associate Professo
Department of Humanities
BUET
 Concept of Socialism

• May be defined as a theory or movement. It is both

economic and political theory

• It is a protest against the evils of capitalism

(want to abolish all forms of private capital)

 Aims and Objectives

• Collective organization of the interest of the mass

people

• Collective control of means of production

• Common/State Ownership
 Growth of the Concept
• Two hundreds years ago
• (Plato : Fictitious Idea: Republic; Ruling class will have no
property of his own and shared all things commons)
• Middle Age: Various movement attack wealth and commerce
• During Renaissance : Protest against inequality based on wealth
• Modern (Gave Scientific Explanation)
(i) German : Marx
Russian : Engels
(ii) Das Capital, Communist Manifesto
• Lenin : Russian Revolution
• 1990: East Europe;
• 1991: Soviet; China, Cuba now in Weak Position
 Definition

• Encyclopedia Britannica
- Better Production & distribution of wealth
• Dictionary of Politics
- Production, distribution & exchange controlled by the
people; Equal opportunity to develop
• Bernard Shaw
- Equality of Income and nothing else
 Characteristics of Socialism

1. More emphasis on Society than on individuals

2. Elimination of Capitalism: Competition for profit is anti-

social; State is the guardian of masses

3. Opposed to capitalism: Capitalism leads unequal

distribution of wealth

4. Elimination of Competition: No fair competition between

rich and poor on account of existing income inequality

5. It stands for equality: Inequality creates capitalist system

 Characteristics of Socialism

6. Elimination of Private Property: Land is a free gift of

nature: Karl Marks & Friedrich Engels : Landlord must be
destroyed

7. Elimination of Private Enterprise: Nationalism of

Production; State will control all factors of production

8.Organic unity of the society: Man will act with man as a

brother; No division Oppressor & Oppressed

9. State as an instrument of exploitation and

compulsion: Governance for Human good will
 Merits of Socialism
• Effective/Reform
• Importance of the State
(State will be Friend, Philosopher, Guide)

• Promotes social welfare

• Rapid progress in the economic field

• Emphasis on society not individual

• Democratic spirit

• Non-profit incentives bring better

• Productive work : Full wage

 Criticism
• Distort and Misrepresent facts
• Attitude is not conducive to the growth of trade

• Nature also a source of wealth

• No incentive work and production

• Fail to offer an equitable plan for the

distribution of natural wealth
• Effects on political field

• Liberty is restricted
-

Conclusion

• Present Russia, China, Rumania, Bulgeria, Albenia,

Hungery, Chekoslavakia : Socialism in weak position

• Now market economy expansion rapidly

• Revolution attitude will evaluate

• In near future may be a coordination among two

Thank You