Question

Mention the two main features of Socialism.

Answer 1

Socialism favors ‘collectivism’, i.e., collective good or social welfare is of greater value than the good of an individual. Socialism, in addition to Equity, promotes Freedom or civil liberties also. Socialists have been great supporters of civil liberties, such as freedom of speech, freedom to form associations and freedom of religion, etc. The Socialists want to reduce class divisions. In other words, the goal of Socialism is the abolition of private ownership over means of production, such as land, mines, factories, etc.