Question

Socialists prefer. Co-operation to Competition and favor Collectivism over Individualism. Mention the three key features of Socialism.

Answer 1

Socialists believe that democratic means should be employed for achieving their objectives, i.e., The Goal of Socialism. They rejected the revolutionary overthrow of the existing political and economic system. Almost all nations of the world (with the possible exception of America) have had strong socialist parties. After attaining success in elections, the Socialists adopt policies which would strengthen socialism. In Britain, the labor party for the first time gained an absolute majority in the House of Commons in 1945. The Labor Government, then, nationalised a number of industries and adopted such programmes as public housing and National Insurance to pay money to people who were ill, unemployed, or had retired.