Question

Who were socialists?

Answer 1

Hint:The people who opposed private property and saw it as the cause of all social ills of the time are the socialists. Socialists believe that everything in society is made by the collective efforts of the people and citizens. Many people and countries see socialism differently. Socialism includes the political theories and movements associated with such systems.

Complete answer:
Socialism is an economic and political system. It is an economic theory of social organization. It states that the means of making, moving and trading wealth should be bought or controlled by the workers. This means that the money made belongs to the workers who make the products, instead of groups of private owners. People who agree with this type of system are known as socialists. There are many types of socialism. In all types, the workers dominate the means of production. The major differences between the different types are the role of the market planning, how the means of production are controlled, the role of management of workers and the government’s role in the economy. Socialists believe that private ownership of land ensures the land will be put to productive use.

Note:The word socialist has become so politicized that it can be hard to define accurately. The original 19th century socialists believed that workers and society should have total control of the means of production. Today’s socialists hold a wide variety of beliefs from community ownership of land and businesses to government control of goods and services for the public good, funded through taxations.