Theory of Socialism

by Erik Steel

Overview

Socialism is a political and economic system based on the idea of collectivization (common ownership) of the means of production and shared responsibility for decision-making about the means of production. It has its roots in early 19th Century European politics and has since evolved into a number of different movements.
Early Socialism

The earliest socialists were responding to widespread poverty in such countries as England and France. In his 1813 essay "A New Vision of Society," Robert Owen developed a class consciousness, showing that a privileged class was exploiting the majority poor in England through its ownership and control of the means of production.

Labor Organizing

The organization of workers into unions or other structures is a major component of socialism. Some socialists proposed locally controlled labor unions, such as the phalanxes of Charles Fourier (1820), while others such as Louis Blanc (1840) proposed that the government control organized labor with the participation of representatives of the people.
Marxism

Karl Marx and Friedrich Engels produced the Communist Manifesto in 1848. This highly influential document of socialism included as its goals molding the proletariat (the workers) into a class that would hold power by overthrowing the bourgeoisie (the class that owned and controlled the means of production).
Communism

Communism and socialism are often difficult to separate because they draw inspiration from similar sources. Ultimately, communism centers around tighter control within a central government, while power in socialism is generally thought to be more spread out.
Socialism Today

A number of socialist parties operate today on the local, state, national and international levels. They represent different trends of thought and act primarily as advocacy organizations, as they have achieved little political success.

Overview