The concept of democratic socialism emerged in the second half of the 19th century, as a protest movement against the unbridled capitalism. Its emergence as an alternative to capitalism is grounded in the moral protest against capitalism and its negative effects in the form of monopoly and concentration of wealth in a few hands, growing inequality and increasing class cleavages.
Also Read: Marxism – Introduction and Dialectical Materialism
Marxism – Historical Materialism and Class Struggle
Socialism – Doctrine of Social Progress, Individualism and Capitalism
Meaning of Socialism
It is very difficult to define socialism as many political, social, and economic conditions factored its growth and development, endowing it with varied meanings. As an ideology it includes various doctrines such as democratic socialism, anarchism, syndicalism, Fabian socialism, etc. Even as an economic theory, socialism has varied meanings, ranging from highly controlled and centralized economies to highly decentralized ones, to the mixed economy.
Democratic Socialism
Erich Fromm states, ‘The aim of socialism is man’s emancipation, his restoration to spontaneous relationship with his fellowmen and nature. Man should throw away the claims which bind him, the fiction and the reality, and transform himself into a being who can creatively use his powers of feeling and thinking. Socialism is a mission to integrate the man, whom the capitalist system has rendered apart from his roots and social being, with society.
The capitalist system reduces a man to ‘mere a cog in a wheel’ and to the status of ‘appendage of the machine’. Underlining the dehumanizing aspect of capitalism, Fromm observed that ‘The individual became more alone, isolated, became an instrument in the hands of overwhelmingly strong forces outside himself; he became an individual, but a bewildered and insecure individual’. The socialism, despite its multifold varieties and varied definitions, is based on some characteristics or assumptions. There are an egalitarian society, satisfaction to basic needs, collective or common ownership, and the idea of service.

The socialism stands for a new social order based on equality and a just system, and it believes that without equality, it is not possible to attain liberty. Other basic assumption of socialism is the satisfaction of the basic needs of every human being. The wealth of the nation should be distributed so that everyone can afford to satisfy their basic needs. They believe that the profit motive should be replaced with a service one. Another characteristic of socialism is the collective or common ownership of the means of production.
The socialist believes that an economy based on collective or common ownership would be more efficient and satisfying, both materially and morally. The inequality in wealth leads to social inequality, and to the inequality of opportunity. This kills the individual’s initiative, as there are virtual barriers for his growth and development. Underlining the basic assumption of socialism, Joad said, ‘Once the capitalist is expropriated and workers of the state, men will feel that in working for the society they are working for themselves’.
This will boost their morale. Meghnad Desai argued that, ‘The desire to excel, the joy in creative work, the longing to improve, the eagerness to win social approval, the instinct of benevolence; all these will start to enter full life, and serve at once as stimulus to labour and the reward of excellence’.
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