Difference between life insurance and general insurance pdf

Difference between life insurance and general insurance pdf means equality in the society and democratic socialism means equality in a democratic state. Socialism can be defined as a system of collective ownership and management of the means of production and the distribution of goods.


Socialism also views that in a capitalist state, the wealth and power is concentrated among a small section of the society. Socialism can also be stated to be a society where all people work as equals in cooperation for the common good of all. Democratic socialism gives more importance to a democratic character. While having almost the same principles as that of socialism, democratic socialism believes in a socialism through the ballot box.

It states that any change in government and society should be through fair elections. Socialism was a term that originated in the late 18th century and early 19th century as a result of the economic and social changes linked with the Industrial revolution. It was Henri de Saint Simon who coined the term socialisme. Noel Babeuf, Charles Fourier, Robert Owen, Karl Marx and Engels are some of the great thinkers of this theory who believed in the application of modern technology for rationalising economic activity through the elimination of capitalism.

They were also critics of private ownership. Democratic socialism became prominent in the late 19th century. It was after World War 1 that Democratic socialism had its footing in Europe. In the US also, Democratic socialism became a great movement after socialist Eugene V Debs.

Democratic socialism has now spread to Latin America, Asia and many other regions. Socialism can be defined as a system of collective ownership and management of the means of production and the distribution of goods. Democratic socialism gives more importance to a democratic character. Socialism can also be stated to be a society where all people work as equals cooperating for the common good of all.

While having almost the same principles as that of socialism, democratic socialism believes in a socialism through the ballot box. It states that any change in government and society should be through fair elections.

Socialism was a term that originated in the late 18th century and early 19th century as a result of the economic and social changes linked with the Industrial revolution. Democratic socialism became prominent in the late 19th century. If you like this article or our site.

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