Understanding Socialism: A Comprehensive Overview
Socialism is a political and economic ideology that advocates for collective or state ownership of production, distribution, and exchange. It emerged in the early 19th century as a response to industrial capitalism, aiming for a more egalitarian society that prioritizes collective well-being. Socialism critiques capitalism, champions the working class, and envisions a transition towards communism. While the original goal was the abolition of capitalist economy, modern socialism includes reformist approaches for a gradual transition through improved working conditions and legal means.
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SOCIALISM AS A POLITICAL IDEOLOGY
What is Socialism? By definition, according to the Oxford Concise Dictionary of Politics, Socialism is a political and economic theory of social organisation based on collective or state ownership of the means of production, distribution, and exchange. As a political creed, socialism took shape in the early nineteenth century. The use of the word can first be traced back to 1830s by the followers of Owen in Britain and those of Saint-Simon in France. As an ideology socialism is a reformist and revolutionary idea which challenge capitalist industrial society to become more egalitarian that takes care of the collective well-being of all. Thus, socialism developed as a reaction against the emergence of industrial capitalism. Socialism also challenges capitalist industrial society to become one in which the pursuit of individual self-interest is subordinated to such values as association, community, and cooperation.
At the very beginning, socialism first articulate the interests of artisans and craftsmen threatened by the spread of factory production. However, it was soon linked to the growing industrial working class.
Socialism is a critique of capitalism and the championing of the interest of the working class or proletariat to a position of supreme importance. Rather than having the control of the means of production in the hands of the bourgeoisie, socialism will rather have this in the hands of the working class. Apart from being a critique of capitalism, socialism is a stage in transition from capitalism to communism. It is a transitional phase between capitalism and full economic and social communism
The original goal of socialism is the abolition of capitalist economy, which is based on market exchange. This is to be replaced with socialist society, that is constructed on the principle of common ownership. However, there has been a change in the way socialism is implemented. From the late nineteenth century, there was the emergence of a reformist socialist tradition which reflected the gradual integration of the working class into the capitalist society through an improvement in the working conditions, wages, growth of trade unions, and socialist political parties. At this stage the belief is that there can be a peaceful, gradual and legal transition to socialism.
Although there is agreement about a few things regarding socialism there are issues about which there is disagreement. One, there is dispute among socialist about the role of the state in the ownership, control, and organisation of the economy. Two, there is no agreement about the relationship between socialism and democratic politics. Three, there is tension between those who want change gradually regarding achieving the ends of socialism and those who want change through revolution. Thus, as a result of three above, we have Reformist Socialism and Revolutionary Socialism. The difference is first based on the most appropriate means of achieving socialism. While the earlier believes in gradual change, the later believes in revolutionary change. The difference between the two types of socialism is also founded on the distinction both made about the very goal of socialism. Reformist Socialism turned their backs upon fundamentalist principles such as common ownership and planning, and recast socialism in terms of welfare, redistribution and economic management.
Elements of Socialism The following are the elements of socialism 1. Community. Socialism emphasise social interaction and membership of social groups and collective bodies. This has to do with emphasis being laid on the community. Rather than emphasising innate qualities. Socialism emphasis the contribution that others make to complete the individual and how the individual is important in the community too. 2. Fraternity. Fraternity means brotherhood. The emphasis laid on fraternity by socialism is to point to the fact that human beings share a common humanity and are bound together by comradeship. Thus, socialists prefer cooperation to competition, and collectivism over individualism. The argument against competition, as we have it in liberalism, or capitalism, is that it pits individuals against each other. Thus, rather than having cooperation, capitalism encourages rivalry. However, the emphasis on cooperation, as championed by socialism is because this value enables people to harness their collective energies and strengthens the bond of community.
3. Social Equality: This is the most important value of socialism. There is the belief in social equality as the main value that can guarantee social cohesion and stability. 4. Need: This element of socialism points to the belief that material benefits should be distributed on the basis of need, rather than simply the basis of merit or work. According to Marx, from each according to his ability, to each according to his need. The emphasis on the satisfaction of basic needs is as a realisation of the fact that the fulfilment of one s basic needs for hunger, thirst, shelter, health, personal security, among others, is a requirement for worthwhile human existence and participation in social life. 5. Social Class: for socialism, social class is real. The aim of socialism is to eradicate unjust social class. It is built on the need for the working class and the oppressed class or exploited class to have emancipation and be the agent of social change.
6. Common Ownership: Private ownership, as is the case in capitalism is see as the root of evil. It is seen as being responsible for breeding selfishness, acquisitiveness and social division. Socialism believes that common ownership will help remedy this. This will enable harnessing materials resources for the common good.
