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What is Capitalism?

The word capitalism is now quite commonly used to describe the social system in which we now live. It is also often assumed that it has existed, if not forever, then for most of human history. In fact, capitalism is a relatively new social system.

What is Socialism?

Central to the meaning of socialism is common ownership. This means the resources of the world being owned in common by the entire global population.

Revolution or Reform?

Given all that we have said so far about capitalism, it seems obvious that something must be done. But what? Can capitalism be made to work differently? Or must there be a social revolution to replace capitalism with some other society? This is a debate that has raged for over a century.

More Frequently Asked Questions

Why are the answers in this FAQ so long?

Socialism is almost globally misunderstood and misrepresented. Socialism will be a basic structural change to society, and many of the things that most people take for granted, as "just the way things have to be", can and must be changed to establish socialism.

People tend to accept as true the things they hear over and over again. But repetition doesn't make things true. Because the truth and the facts often contradict "common knowledge", socialists have to show that "common knowledge" is wrong. That takes more words than just accepting the status quo.

What is the World Socialist Movement (WSM)?