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Socialism is a very simple concept, a sense of responsibility not just to self, but to community, taken to it's logical applications. Socialism is about individuals of a community working for the community first, and themselves second.
As an economic system, it's about a society agreeing that their wealth can be shared, while still respecting the level of contribution from the individual. There is a great deal of planning so that no member of the society is left behind. It's not 'state ownership' exactly, as it's often referred to. It's everyone sharing in the communities acquired success. A proper socialist economic system is HIGHLY democratic, allowing not the centralized government, but everyone to develop an economic policy. I know a socialist democracy sounds nuts to most people, but I think it's our best bet so far as bringing about real positive change on all fronts. Imagine a world where there is no risk of monopoly. Imagine no more unemployment. Imagine no more $5 an hour minimum wage. Imagine no more multi-billionaires, hogging all the wealth. Most importantly, imagine no more exploitation of workers.
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