Outside of Russia, how did socialism work to change society in the late 19th century?

Responses (1)

The concept of larger investments yielding larger returns with a reduction to individual costs began to take shape. Around the same time Transcendental Movements were explored creating a new perception of the world around being interconnected.

Ultimately when many people pay small sums for a unified purpose such as police, roads, manufacturing equipment, and the ilk the ability to purchase goods or services sooner ties in with the economic theories of the time (not just socialism) - which were pointed out by Bohm-Bawerk: interest exists because money now is worth more than money later.

Most cultures trusted goverments to hold these investments through varying tax levels, some cut through the government and trusted a more local approach which also increased risk and return possibilities. With capitalism in the United States this became the same socialism aspect in many ways including stock investments which had been seeing fluctuations already especially 50 years prior and 50 years later. What was recognized late in the US was recognized earlier by most of the world which is that greed can destroy the construct of socialism investments. Selected universal needs and demanding govermental control or allowing trusted government to recognize universal needs is far less likely to fall victim to greed and risk failures. Today the concept of socialism is still being vetted and improvements are being made however fraud and individual greed are still the greatest risks and so regulation and oversight have become the costs associated with socialism when education and community organization should be.

Until balance between investment risk and reward is established through concepts like the United Nations and the World Bank and fraud/greed are marginalized, there will continue to be personal debates about how much trust we can risk. Trust is the foundation of humanity, social society, and socialism yet is also it's greatest weakness.

Votes: +0 / -0