Does everyone get the same income in socialism?
There is a very common myth about socialism, which says that socialism would give everyone the same wage, and therefore no one would have a reason to work hard. This is false. Socialism does promote equality of wealth, but it does this by getting rid of profit, interest and rent as opposed to by equalizing wages.
How are wages determined in socialism?
The source of the individual wages of the workers engaged in socialist production is the product created for themselves, and distributed according to work. However, the standard of life of the workers by hand or brain in socialist society is not determined by individual money wages alone.
Is it bad that socialism is becoming cool again?
Socialism is bad and it is bad that socialism is becoming cool again. Nevertheless I enjoy reading Matt Bruenig and other new socialists who clearly lay out their ideas for how it all would work. I think entrepreneurship, productivity, dynamism, and reallocation are first order factors for economic growth and socialists should address these issues.
Why is socialism considered dangerous or bad for some?
Socialism is an extremely complex political ideology that encompasses a very wide range of governing philosophies. Examples of socialism in history range from the commun True socialism is dangerous. The concept of nation guided by the principle of equality is very theoretically attractive.
Which is the most extreme form of socialism?
Communism is but an extreme form of socialism. From the ideological standpoint, there is no substantial difference between the two. In fact, the communist Soviet Union called itself the Union of Soviet Socialist Republics (1922-1991) and communist China, Cuba and Vietnam define themselves as socialist nations.
Is there a difference between socialism and communism?
1. Socialism and communism are the same ideology. Communism is but an extreme form of socialism. From the ideological standpoint, there is no substantial difference between the two.