Socialism
Define socialism.
Collective ownership of the means of production and distribution for the common good.
Is the U.S. purely capitalist?
No, it mixes capitalist and socialist features.
What was the key result of the Agricultural Revolution?
Stable food sources and population growth.
What is a transnational corporation?
A business operating across multiple countries.
Which theory sees inequality as inevitable but functional?
Structural functionalism.
List the five socialist principles.
Democratization, egalitarianism, community, public ownership, or planning for common purposes.
Name one publicly funded system in the U.S.
Public education, postal service, or Social Security.
How did the Industrial Revolution change labor?
Shifted work to factories and created wage labor.
How does globalization create inequality?
It benefits corporations and wealthier nations while exploiting cheaper labor markets.
Which theory critiques capitalism as exploitative?
Conflict theory.
How does socialism differ from capitalism in distributing resources?
Goods and services are distributed based on need, not profit.
What is meant by “centrally funded and regulated services”?
Services funded by taxes and managed by the government for all citizens.
What defines the Information Revolution?
The rise of digital technology and information management.
What is “fair trade”?
A market system focused on fair wages and ethical production standards.
Which theory examines worker interactions and meanings of work?
Symbolic interactionism.
What does socialism guarantee as entitlements for all citizens?
Health care, food, housing, and other basic needs.
How does the Federal Reserve represent government regulation?
It manages the economy and money supply to stabilize markets.
What is “telecommuting”?
Working remotely while staying digitally connected to the workplace.
What ethical issue does outsourcing raise?
Exploitation of foreign workers and job loss at home.
What did Marx mean by alienation?
Workers are disconnected from their labor and its products.
How does government regulation function in socialist systems?
It ensures fair access and public welfare rather than competition.
What would education look like in a purely capitalist economy?
It would be privatized and only accessible to those who could pay.
How do technological revolutions affect inequality?
They often increase inequality by replacing jobs and concentrating wealth.
How does socialism address the harms of globalization?
Through regulation, fair trade, and worker protection.
How does labeling theory apply to work?
Labels like “unskilled” or “service worker” affect worker identity and opportunity.