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Socialism: Has it had its Day - Essay Example

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This essay seeks to critically analyze whether socialism has had its way. It is critical to examine the history of the 19th-century socialism, the ideals, philosophy and foundations of socialism, in order to use them as parameters to gauge its success…
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Socialism: Has it had its Day
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"Socialism: Has it had its Day"

Download file to see previous pages The enlightenment stage was synonymous with the worship of property rights. Property rights were equated to liberty, rights which were protected religious by some philosophers. During that era, there developed a close nexus between wealth and political power. The wealthy assumed the political power and which they defended by the claim that the wealth and nobility was their God-given right (Roemer, 2008). They employed the political power to protect their property and to oppress the poor.
Socialism arose out of the aspiration to protect worker’s rights following the industrial revolution. Socialists sought to eradicate social classes that emerged from capitalism and promote equality. 19th-century socialists rejected the foundations of capitalism that resulted following the industrial revolution that the wealthy deserved their wealth since they are the ones who had created it. They based their argument on the hypothesis that wealth is created by the working class and wrongfully commandeered by the rich. Therefore, the rich were gaining at the expense of their laborers who they underpaid. They equated labor to capital, arguing that they were equally important, and attributed the cause of poverty and despair to capitalism. Socialists fronted the ideals of equality, democracy, cooperation and shared prosperity.
With regards to democracy, socialist philosophers like Rousseau argued that real democracy could not survive societies with great disparity of wealth and poverty. He argued that whichever the electoral system, power naturally tends to move towards wealth. During the industrial revolution, the bourgeoisie created various democratic movements gained momentum across Europe.  ...Download file to see next pagesRead More
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