Revolutionary socialism goals to overthrow the capitalist system. Revolutionary socialism is not necessarily a name to arms, however it often resembles Marxism. It views the existence of capitalism as being in the way of achieving socialist beliefs. Therefore, this line of thought seeks to interrupt what it considers the capitalist stranglehold of society and substitute the market economy with public possession and central planning. After decades of sluggish growth and bureaucratic inefficiency, India rejected state socialism in the Nineties and shifted to a capitalist approach that spawned the world’s largest middle class of more than three hundred million (practically equal to the whole U.S. population).
Where capitalism stresses competition and revenue, socialism calls for cooperation and social service. Also often known as anarcho-socialism, subscribers to the libertarian socialism idea reject huge authorities and big enterprise. Unlike other socialists, libertarian socialists don’t wish for the federal government to deal with everybody. … Read More