SOCIALISM AND THE ECONOMY

Question 1

what are socialists against

Answer 1

Capitalism and private ownership

Question 2

Why are socialists against capitalism and private ownership

Answer 2

Said to encourage competitiveness, ruthless egotism and makes inequalities of wealth

Question 3

Rejection of what capitalism

Answer 3

Laissez faire capitalism and attitudes - argue that low tax and little state interference leads to unfairness and injustice

Question 4

Believe in what taxation

Answer 4

Progressive taxation - Rich pay more, leads to greater social justice

Question 5

believe in progressive what

Answer 5

Progressive public spending - taxes used for less fortunate

Question 6

Guaranteed what by the state

Answer 6

Public services which are state owned

Question 7

Extensive regulation of what

Answer 7

Capitalism - min wage, safety regulations

Question 8

why is the regulation of capitalism needed

Answer 8

To prevent exploitation from the rich

Question 9

Collectivist policies seen to make economy more what

Answer 9

Efficient

Question 10

What do socialists argue than collectivist economic policy does

Answer 10

Argued it is more stable and manageable, therefore more likely to provide material resources society needs