Review:
Socialism
overall review score: 3.5
⭐⭐⭐⭐
score is between 0 and 5
Socialism is a political and economic ideology advocating for collective or governmental ownership and control of the means of production.
Key Features
- Collective ownership of resources
- Redistribution of wealth
- Social welfare programs
Pros
- Promotes social equality
- Provides social safety net for citizens
- Can reduce income inequality
Cons
- Potential for government overreach
- Can stifle innovation and entrepreneurship
- Historical examples have led to authoritarian regimes