Socialism

By Carlos Hernandez, Alexander Carbone and Clayton Huber

What Is Socialism?

Socialism is the political and economical theory that advocates the means of
production, wealth, distribution and exchange be owned and regulated by the
community
How does Socialism work?

Socialism means production to satisfy human needs, not as under capitalism,

for sale and profit. Socialism means direct control and management of the
industries and social services by the workers through a democratic government
based on their nationwide economic organization. Essentially, Socialism is
based around sharing things equally, similar to communism.
Multiple Types of Socialism

Socialism doesnt have 1 type to describe itself but rather different variations
that put the practical usage in different ways. There are two different main
types of socialism being Social Democracy and Marxism-Leninism.

Social Democracy gives equal rights and opportunities to all while the state
runs the welfare system and built onto a Capitalist economy.

Marxism-Leninism rules over the proletariats (the wage earners of society)

through dictatorship and has the underlining result of benefit of the state will
equal the benefit of the people.
Socialist Countries

There are many countries that fall under socialist ideals and still use them to
this day. Here are a few of them.

China
Cuba
Vietnam
Afghanistan
N Korea
Albania
Notable Socialists

Karl Marx

Che Guevara

Helen Keller

Albert Einstein

Bernie Sanders
Pros and cons of socialism

Pros

Every citizen will have access to education and health care. It results to a
classless society. It allows for balance in wealth and earnings. It eradicates
monopolies in corporations.

Cons

It gives the government much if not full control. It demands higher taxes. The
rights of workers might be too much. People have to deal with bureaucracy. It
can result to lack of motivation. It can result to unnecessary spending by the
government.
Socialism Video

https://www.youtube.com/watch?v=OBYmeLBWjeI
But Socialism Isnt the Best Though

Socialism has its basics to support the economy in every way, but it always has
failed or ruined the economy. Well Socialism is a system that doesnt have an
effective and incentive way to direct their economic activity. Due to this, they
really have no way to control or emphasize Socialism. This means that it purely
relies on the actions and the goodwill of the people. However due to our human
nature, no one has any incentive to follow these rules which leads to
possibilities of poverty, capitalism, hierarchy, and the downfall of the country.
Venezuela - A Country in Ruin

Venezuela is an example of how socialism has failed to support the country

and ultimately ruining the economy. Through recent statistics done on
Venezuela, the total economy decreased a total of 18%, 25% of people are
unemployed, and the economy has inflated to 750% and is expecting to
increase to 2000%. That is the saying a 1 dollar apple now costs 20 dollars
while your currency is now valued less than the original amount.

Due to this, 74% of all venezuelans has lost over an average of 20 pounds and
constantly declining leading to protests against the government. People have
described Venezuela to be a Socialist Hell
Thank you for your time!
Questions or Comments?