Explain how a society, according to socialist, can operate without property. What would be the basis of socialist society ?

Explain how a society, according to socialist, can operate without property. What would be the basis of socialist society ?

Ans.

(i) Co-operatives could not be built on a wide scale only through individual initiative. They wanted that governments must encourage co-operatives and replace capitalist enterprise.

(ii) They said that co-operative were to be association of people who produced goods together and divided the profits according to the work done by members.

(iii) More ideas were added to this body of arguments.

(iv) These ideas were added by Karl Marx and Friedrich Engels. Marx argued that industrial society was capitalist. Capitalists owned the capital invested in factories.

(v) The profit which came to them through these factories was produced by the workers. The workers contributed to the profits but did not gain anything.