Socialist view of the economy

Socialist View of The Economy 

Socialist view 

  • Oppose a system based on private ownership, prefer to advocate for common ownership of property 
  • Advocate for greater workers control in the economy rather than buisness owners running production 
  • Also want to redistribute the wealth in society, take from the rich and give to the poor
  • Oppose Laissez Faire capitalism, prefer to advocate for far more state control 
  • Also advocate for more collectivism through progressive taxation, public spending, state regulation and state/ common ownership
  • A more collectivised economy would be more stable and allow humans to fulfill the need

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