Socialism is the economic theory or system, in which the community owns the means of production, distribution, and exchange collectively, usually through the state. It is characterized by production for use rather than profit, by equality of individual wealth, by the absence of competitive economic activity, and, usually, by government determination of investment, prices and production levels. It is collective because society can control production unlike capitalism and because production is for the common good rather than for individual profit. At the same time it is individual because workers are no longer a large alienated group of people employed by a minority of owners. Work becomes a free and self-affirming activity for each worker and they receive the benefits of the labor. The capitalists no longer control production nor grow rich from other's hard work—everybody is an owner. Socialism in theory means far healthier individuals and human relationships. It means full participation by each individual in the intellectual, cultural and political life of society. For individuals, socialism means an end to economic insecurity and exploitation. It means workers cease to be commodities bought and sold on the labor market and forced to work for someone else. It means a chance to develop all individual’s capacities and potentials within a free community. The sole purpose of socialism is to provide for everyone. This is the reason it has been implemented in underdeveloped countries so that the government can provide for all the citizens. Under capitalism the lower class is often left behind. It is for this reason the working class is the biggest supporters of socialism. Socialism ensures that there are no owners of large corporations exploiting workers for their own profit because there is no profit motive under socialism.An argument against socialism is because of this lack of a profit motive the society cannot...
