Socialism originated in France during the French Revolution in 1789. Karl Marx and Friedrich Engels referenced scientific socialism in their 1848 work The Communist Manifesto. Socialism is an economic system characterized by public ownership of major industries and centralized economic planning, with social ownership and distribution of profits among society rather than to private owners.

1. Justina Nguyen, Victoria Nguyen
Ms. Kritzeck
English 2A Period 3
25 November 2013

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Socialism is an economic system that is
characterized by the centralized planning of
major industries and by public ownership
Social ownership

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Socialism originated in France during the
French Revolution in 1789
Karl Marx and Friderich Engels referenced
scientific socialism in the Communist
Manifesto

5. Karl Marx and Friedrich Engels wrote The Communist Manifesto in
1848

6. Socialism
Capitalism
Economic System
Everyone gets somewhat Free market(no
equal amounts of
regulations on any
money, but the harder
markets)
you work the more
money you get
Philosophy
Profit is distributed
Means of production is
among society in
owned, operated, traded
addition to earning wage for generating profit for
owner/shareholder
Religion
Freedom of religion
Freedom of religion
Key Proponents
Adam Smith, Ayn Rand
Robert Owen, Pierre
Leroux, Karl Marx,
Fredrick Engels

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Came to the Soviet Union in December of 1922
Fell in December of 1991

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Socialist Countries:
China
Denmark
Finland
Netherlands
Canada
Sweden
Norway
Ireland
New Zealand
Belgium