What is Socialism?

As the presidential candidates swirl this term around I wonder what it is. And I am not alone as others are unaware of what this economic theory is. Here is what Auntie Google has to say.

In socialism the government controls social functions and there are no privately owned companies. Economic resources are shared. This theory was begun by Karl Marx, a German.

The countries that practice this are:

  • China
  • Laos
  • Viet Nam

So, next thought what is the difference between socialism and communism?

In communism everything is owned by the state.

Now I am even more concerned and quite frankly scared. Are you?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s