1. Socialism
Journal #3
It is said the experts know best. Give an example of when they are and are not always right.

2. Socialism (Social Democracy)
State’s management of the economy +
Provision of social expenditures =
Balanced freedom and equality
Tempers the extremes of capitalism and communism

3. Socialism Capitalism: Private property Open markets Democracy
Communism:
State regulations/ ownership of certain sectors
No private property
State controls markets
A high level of social expenditures to ensure basic benefits to all

4. Socialism Eduard Bernstein: Evolutionary Socialism
Rejected Marx’s belief in the inevitability of revolution
Economic equality can be achieved through democratic participation
How have we used democratic participation to become more socialist?

5. Socialism Still use a market economy
Willing to give up being efficiency for different benefits
Regulate the workplace*
Working regulations
*What is currently happing with our environment regulations?

6. Socialism Social democratic systems vary Labor flexibility
Hours you can work
Benefits
Termination conditions
Unemployment benefits
Taxation levels*
Would you be willing pay a 50% income tax in order to have a more equal society?

7. Socialism
Neocorporatism: A system of social democratic policy making in which a limited number of organizations representing business and labor work with the state to set economic policy.
Wages
Unemployment compensation
Taxation
= Less prone to conflict
Effects:
More equal population with freedoms
Economy that is subject to consumers wishes
Criticisms:
High taxes
Lowed efficiency
Selfishness

8. Socialist
Should the U.S. Government be able to force private companies to NOT trade with certain people and companies? Why or why not, based on SOCIALIST principles?