Socialism

Socialism is a political and economic philosophy which spans many diverse positions and policies, most of which are characterized by social ownership of the means of production, which stands in opposition to the capitalist mode of production which has private ownership of the means of production. In Marxism, socialism is thought to be the lower stage of communism.

Socialism can be summarized by the motto "From each according to their capacity, to each according to their work."

Among the first successful experiments in the scientific development of socialist economics was the Soviet Union in the late 1920s, when the the means of production were brought under social ownership, namely the land and agricultural economy was brought under the ownership of the state; expropriated from private landowners called Kulaks.

In our Library

• Socialism: utopian and scientific by Friedrich Engels

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