Thread: I just realized something... Version 1.0 was Socialism in practice.

Originally Posted by Eldryan

Socialism is an ownership structure where society and it's citizens take a collective responsibility in the enterprise in question, and the benefits and services of that enterprise is then distributed fairly amongst the citizens.

How do we decide what constitutes a "fair" distribution? How is such a thing determined or measured, and by whom?

Originally Posted by Eldryan

Some countries socialize their natural resources, meaning the profit from sales of natural resources of the land in their country are used to fund government operations, such as those mentioned in the previous paragraphs, which in turns allow the country to lower the taxes it need to collect from everyone. While other countries privatize those natural resources, allowing individuals or group to profit from sole ownership of the land, and not have to share that profit with the rest of the country.

Can you think of any example in which a privately owned company has not benefited the citizens in its local area?