Obama And Socialism For Americans
275 views · Published 6 April 2009 · 3:43 · Indexed 20 September 2026
Channel: ZooSolo MoHambone · 2009 · News & Politics
Socialism refers to a broad set of economic theories of social organization advocating public or state ownership and administration of the means of production and distribution of goods, and a society characterized by equality for all individuals, with a fair or egalitarian method of compensation. Modern socialism originated in the late 19th-century intellectual and working class political movement that criticized the effects of industrialization and private ownership on society. Karl Marx posited that socialism would be achieved via class struggle and a proletarian revolution, and would represent a transitional stage between the capitalist and communist modes of production.
