Socialism grew out of the endeavour to improve the miserable condition of the working classes and seek to establish socio-economic equality between man and man just as democracy seek to establish political equality.

 

Mentors Comment:

In the intro discuss how industrial revolution as well as capitalism led to the worsening of the conditions of workers and how it led to the demand of the socio-economic justice. 

In the 1st part, discuss the role of democracy in seeking political equality to all.

The second part will carry forward the discussion and will discuss the importance of socialism and how it tackles socio-equality in the society.

Mention few challenges towards the end regarding the challenges that has been faced by the socialism in its endeavour in creating a just world for everyone and give some suggestions.

Answer:
Success of Industrial revolution and capitalism resulted in deterioration of the conditions of workers. This created a demand of socio-economic justice as was generated for political equality and representation by the proponents of industrial revolution to protect their interests. This demand generally centered around ownership of resources so that economic inequalities can be reduced.

Democracy as a form of government gives political equality to all by:
• Allowing everyone to participate in elections through universal franchise
• Allowing everyone to contest elections without any discrimination on the basis of caste, colour, sex, race etc.
• Gives fundamental rights like right to life, freedom, property (was present in Europe), equality before law etc.

Thus political democracy creates equality in law but not in economic and social terms. With unequal distribution of factors of productions, accumulation of wealth takes place, workers are exploited, their social status is degraded and therefore to eliminate all these ills socialism was needed.

How does Socialism fits in improving the conditions of workers:
• Socialism as a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.
• Socialism is characterised by social ownership and/or social control of the means of production and co-operative management of the economy so that fruits can be equitably distributed among all.
• A socialist economy is based on the principle of production for use, to directly satisfy economic demand and human needs, and objects are valued by their use-value, as opposed to the principle of production for profit and accumulation of capital.
• Therefore socialism believes that individuals are social animals, they love to work on groups, are ready to cooperate with each other and was critical of capitalist ideology which promotes individualism, market forces as solution to all and promote capital accumulation or greedy behavior.
• Socialism says that man should help man, whereas capitalism believes that man should seek solution in market. Thus socialism tries to create a bond of equality, brotherhood among individuals.
• The socialists wanted to distribute the profits of technological miracle more fairly.

Thus it can be said that socialism wanted to establish socio-economic equality which was missing in the democratic political system based only on political equality.

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