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Week 12 - Group Discussion 2

Week 12 - Group Discussion 2

Q Using the readings in this lesson, articulate a working definition of socialism. What contemporary American values, practices, institutions, or laws might be called “socialist” or reflective of socialist ideas or values? Discuss the similarities and compatibility of socialism and democracy: in your opinion, is socialism or the free market liberalism of Adam Smith more democratic? Explain your answer.

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Socialism: Socialism can better be articulated as the synthesis of a classless society working for achieving the common goal of social prosperity. It considers people as a source, not as an end, and that the ultimate goal will be achieved when all people will share the same lifestyle. Socialism is a brainchild of communism marked by a famous German scholar, Karl Marx. He portrayed it as the "Dictatorship of the proletariat" and blamed Bourgeoisie for keeping production means in their hands and not sharing surplus value among the laborers