this post was submitted on 28 Aug 2023
37 points (91.1% liked)
Socialism
5175 readers
1 users here now
Rules TBD.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I thought socialism is when workers share the capital?
No. Socialism seeks to abolish capital.
@cyclohexane @quicksand
Capitalism is an economic system under which private individuals own and control businesses, property, and capital—the “means of production.”
Socialism describes a variety of economic systems under which the means of production (capital) are owned equally by everyone in society. It doesn't abolish capital, it abolishes the private ownership of capital, thus abolishing Capitalism.
@cyclohexane @quicksand A worker's co-op, such as a worker-owned restaurant, is like a half-way point of sorts, a kind of highly-localized Socialist enclave/experiment in a Capitalist sea. There are numerous examples of successful worker-own enterprises, and it's totally fair to call them Socialist, at least in their local/internal functions and spirit. But their customers will still function like typical Capitalist consumers buying goods/services because that's still the larger economic system.