WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Its main authors are Proudhon and Engels
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Aims to end private property
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He wants a revolution of the proletarians who conquer power
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After a dictatorship of the proletariat, a classless society would be established
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Detailed explanation-1: -Private ownership of productive resources is not the feature of socialist economy.
Detailed explanation-2: -The characteristics of social democracy include state-owned enterprises, centralized economic planning, a classless society, equal opportunity for all individuals, and a government-controlled price system.
Detailed explanation-3: -He rejected the reformist notion that socialism could arise upon the bourgeois economic system. Engels argued that the socialist credentials of a socio-economic system depend upon the class character of the state. Socialism can emerge only when the working class seizes state power and establishes its hegemony.
Detailed explanation-4: -A socialist economy features social rather than private ownership of the means of production. It also typically organizes economic activity through planning rather than market forces, and gears production towards needs satisfaction rather than profit accumulation.