Question

In: Economics

3. . A. Define socialism. Briefly, what did its proponents say to justify why they wanted...


3. . A. Define socialism. Briefly, what did its proponents say to justify why they wanted it?
B. Define communism. Briefly, what did its proponents say to justify why that they wanted it?

C. Define corporatism. Briefly, how did its proponents expect to reach it?

D. Explain how it is possible to have tyranny but not totalitarianism. Is tyranny but not totalitarianism more likely with capitalism or with socialism? Explain.

Solutions

Expert Solution

A.Socialism is a political and economic structure focused on government ownership of means of production.

Justification: More equitable society due to equitable distribution of resources.

B.Communism referred  to an economic and political philosophy that promoted the abolition of privately owned property and the equal distribution of all wealth among the community of citizens.

Justification: Elimination of poverty.

C.Corporatism: country's economy should be divided into large interest groups like employer, employee , producer, distributors.

How to reach : Members of those interest groups should address any issues by negotiation and joint consensus.

D.Yes , it is possible to have Tyranny without totalitarianism, if ruler is acting like a monarch. This is more possible in capitalist system with rich natural resources country , Because monarch can use Money earned through the capitalist system for social welfare. Huge money will lead him towards a welfare state rather than becoming a tyrant.


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