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Democratic Socialism: The means of production are managed by the working people, and there is a democratically elected government.Democratic planning is used for common goods, such as mass transit, housing, and energy, while the free market is allowed to produce and distribute consumer goods.
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Socialism, also known as communism,. We will write a custom Essay on Socialism in China specifically for you! Get your first paper with 15% OFF.. Another aspect of socialism that goes hand in hand with the Chinese Confucian traditions is serving the common good and not just the majority.
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The key arguments in the socialism vs. capitalism debate focus on socio-economic equality and the extent to which the government controls wealth and production. Ownership and Income Equality Capitalists argue that private ownership of property (land, businesses, goods, and wealth) is essential to ensuring the natural right of people to control their own affairs.
Good socialism would maximize the pros and reduce the cons by being particular about what institutions are owned by the government. Healthcare, prisons, and schools are three obvious ones. The problem in the USA is that these 3 institutions are gradually letting the private sector take more control.
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