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How socialism influenced the economic development of the modern world? -…
How socialism influenced the economic development of the modern world?
Socialism influenced in a direct way the development of today's economy because its ideals of control over labor rights were welcomed by the workers, which gave way to working conditions that would promote work and generate order in the companies that had been managing their businesses without order. This basically generated the order that had been lost in the companies to begin to generate an organized and equitable economy.
Context
Socialism had several events or people that marked the change and gave it the entrance to the governmental system. An example of this was when Adam Smith began to give his ideas about the Wealth of Nations that was going to show the world how the system of socialism could have a positive impact on society allowing them to find benefits such as equality, certainty, convenience and efficiency in the labor sector.
Another positive aspect that gave way to socialism in society was Marx's ideals about class conflicts because he showed how with socialism this problem of the terrible conditions in which workers lived under capitalism could be solved with the agreement of the economic system where everyone would receive a piece of the profit that the company receives.
As mentioned, with the entry of socialism into the economic system, different guidelines were established that would generate equality in the labor sector where workers would receive a part of the profit generated by the company. This was given through guidelines such as the minimum wage, the number of hours allowed, and the prohibition of child labor, among others that enforced the rights of the workers.
As is well known, while capitalism dominated, workers did not receive a salary from which they could draw to survive and buy basic things such as food or personal hygiene products. This was changed when the power of socialism included a minimum wage rate that would allow workers to receive a wage from which they could support their families and survive. According to the quote below, this decision to include the minimum wage in society was a breakthrough in the economy because it was going to start with this change that was not going to allow things like labor exploitation.
"One widely accepted policy — the minimum wage — is appropriately reflected in Karl Marx’s dictum, “To each according to his needs, from each according to his ability.”
Dorn, J. (2006). Minimum Wage Socialism. Cato.org. Retrieved 7 June 2022, from
https://www.cato.org/commentary/minimum-wage-socialism
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With the advent of socialism, a guideline was also created on the hours of work that were to be allowed. This is due to the fact that under capitalism, there was no limit to the hours available and there were cases of labor exploitation where workers spent 24 hours a day inside the companies doing work that was imposed on them for minimum pay. As Marx said, there must be limits on working hours so that workers can lead their lives outside of their jobs as their families, education, for the development of their mental and motor skills.
"Marx gives credit to the abolition of slavery for sparking new life in the U.S. labor movement in Capital, Volume I, published in 1867, in a section on the length of the workday."
Bauer, A. (2016). Karl Marx on the struggle for a shorter workday - Freedom Socialist Party. Freedom Socialist Party. Retrieved 7 June 2022, from
https://socialism.com/fs-article/karl-marx-on-the-struggle-for-a-shorter-workday/
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Another of the changes that socialism had on the economic system that was being managed was the control over child labor because companies were hiring minors to carry out work that required great effort and hours where they could be studying or enjoying their lives as children. As the cite presented say, they were being abolished from their rights as children.
"Child laborer in hazardous and other industrial work lead lives of degradation and hardship, and are deprived of their rights as children. The majority are involved in farming and are routinely exposed to harsh climate, sharpened tools, heavy loads and increasingly to toxic chemicals and motorized equipment."
Basu, D. (2000). Child labor and child slaves. World Socialist Web Site. Retrieved 7 June 2022, from
https://www.wsws.org/en/articles/2000/01/chld-j07.html
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As a result of socialism, different unions were created that allowed workers to have the power to enforce their rights and create this order where their living conditions were dignified and partly equitable within society.
With these unions, workers were able to find equality in a society that had lost it and had the opportunity to start a life where there was the possibility of having a salary that would allow them to have their own expenses and buy their own goods such as houses or simply food to survive. It also encouraged good treatment of workers and respect for their dignity in the workplace. As cited, this unions created promoted a healthy and equitable environment within the working context.
"Trade unions stand for equal rights and equal pay. They fight against discrimination based on race, gender, sexual orientation and disability."
5 razones para afiliarse a un sindicato. IndustriALL. (2019). Retrieved 7 June 2022, from
https://www.industriall-union.org/es/5-razones-para-afiliarse-a-un-sindicato
.
In addition, through the unions, changes were generated in the minimum wages for the workers because the unconformities of one were transmitted by a group which sought a way to find a solution to which the government agreed and their living conditions improve allowing them to have benefits such as retirement, health insurance, among other fundamental rights. As the cite say, unions help each worker to express themselves and seek optimal living conditions.
"Unions use their collective strength to bargain for better wages, pensions, vacations, health insurance, sick pay, overtime, and more."
The created unions, in addition to being able to inform about worker rights, will defend them and find a way to always respect them avoiding cases of labor abuse or attack against the physical and psychological integrity of a worker. The benefit of unions over personal protection is that regardless of the worker's class, the group will support him, always seeking his well-being.
"The unions support you. They can not only inform you about your rights, but they will also defend those rights"
As it was presented, socialism had an impact on today's societies because it gave an order to the economy within society creating different guidelines which were going to generate equality within the labor context creating optimal conditions for workers and allowing them to have some rights which were going to be respected at any time. For example, socialism had an impact on society with the creation of unions that would play an important role in enforcing the rights of workers. There were also positive changes in society, such as the inclusion of the minimum wage to avoid cases of labor abuse. One example of nowadays socialism is China when the government changed from Mao Zedong who didn´t apply socialism to Deng Xiaoping who named his economical government as "socialism with the Chinese characteristics".