synoptic table

introduction

Body paragraph 1: socialism proposals

Body paragraph 2: Nowadays impact

Conclusion Paragraph

how socialism influenced the economic development of the modern world

socialism has the greatest goal of common wealth; Since the government controls almost all of society's functions, it can make better use of resources, labors and lands; Socialism reduces disparity in wealth, not only in different areas, but also in all societal ranks and classes.

One of the critiques of socialism is that, even if government officials can adjust prices, the lack of competition between different producers reduces the incentive to do so.

A political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.

the greatest impact of socialism is the distribution of wealth among classes of society

also socialism has his implication like the lack of control towards the economical commerce manipulation

the governmental influence on the society imposed by socialism affect the economy in the sense that give more equality to the community itself

China transitioned from a “socialist economy” to a “socialist market economy.”

As a socialist economy, Cuba has a primarily planned economy with around 88% of its workforce working in state-owned enterprises

socialist market economies produce goods based on usage values, with collective ownership shared by the entire country.

A significant portion of the Chinese economy is still government-controlled, although the number of government programs has declined significantly.

Cuba operates with a parallel financial system; one that operates on the usual social programs in critical sectors while allowing a free-market economy in the tourism, export, and international business sectors.

In socialist economies, governments are charged with redistributing wealth and narrowing the gap between the poor and the rich.

Over time, many world leaders that previously identified under the umbrella of socialist economies have now bent towards capitalist-shifts in programs and policies

nowadays evolution of the socialism development has influence the market labor towards the economic growth and decrement in the prices

Socialist market economies across the globe have existed and continue to progress. However, there may not be any standard of a pure socialist economy remaining.

in the past socialism was not really adopted but the major capitalist leaders of the world but nowadays countries like china that stand in the second biggest country economy had take advantage of the system

One of the biggest notice in the evolution of the socialism is how it has affected noways economy towards business between the stock market of the countries

from the countries that have adopted this system they are some few that have been able to have succeed in the manage of resources from the government but in other aspects like distribution their economy has work a lot.

The government manages the use of resources and the production of products or services that the people need, which is referred to as central planning.

advocates public ownership and cooperative management of the means of production and allocation of resources

A socialist market economy is a system of government that attempts to strike a balance between pure capitalism and social welfare.

Socialism is a left-wing political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production.

Societies along such a continuum may continue to designate themselves as either capitalist or socialist, but they are likely to reveal as many similarities as differences in their solutions to economic problems.

Cuba, and china have strong elements of socialist market economies.

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What Exactly Is a Socialist Economy?. (2022). Retrieved 19 May 2022, from https://www.investopedia.com/articles/investing/082014/what-exactly-socialist-economy.asp

What Is Socialism?. (2022). Retrieved 19 May 2022, from https://www.history.com/topics/industrial-revolution/socialism