Lesson Five: The Origins of Socialism

4. Lesson 3.5.3 Socialism Economic Values

Socialism takes a collectivist approach to an economic system.  Think back to one of your earlier lessons about the zoo and the jungle.  A socialist economic system is a lot like a zoo.

In the interests of the common good, socialism promotes the the collectivist economic values of

• Economic Equality: The government should be involved in the economy to ensure every individual has an equal share of the economic wealth of society. For example, it should provide equal access to basic needs, health care, and education through government-run social programs.

• Public Property:  Land and capital should be publicly owned and administered through the government. For example, industrial production should be owned and operated by the government with profits going toward providing economic equality.