Comment on What's the difference between communism and socialism?
Milan@feddit.nl 1 year agoYour definition of socialism is false. Socialism is when the means of production are owned by the workers. This is incompatible with capitalism, where the means of production are held by those who own capital. In simpler terms, under socialism workers have agency over how their workplace whereas under capitalism that is decided by a CEO/board of directors.
What you’re describing is a social democracy, which is a more socialised version of capitalism.
Track_Shovel@slrpnk.net 1 year ago
What do they mean by means of production?
agamemnonymous@sh.itjust.works 1 year ago
Factories and stuff. In capitalism, a rich person buys the equipment necessary to turn raw materials into useful products, pays workers a set wage to operate that equipment, and then pockets the difference between the cost of raw materials and employee wages, and the sales price of the product. In socialism, the equipment is collectively owned by the workers themselves, who share the difference between the price of raw materials and sales price.
Track_Shovel@slrpnk.net 1 year ago
Thanks.
It seems really unintuitive at first. Now that you explain it, I get it