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  1. Social ownership of the means of production
  2. Economic planning to coordinate production and investment
  3. Workers' self-management or collective-decision making in firms
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Q: What is the basic idea of socialism?
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What was the basic idea of socialism?

Wealth was a measure of a person's value to society.


Where socialism starts?

Socialism's origins where in France in the late 1780s during the industrial age. It spread through Europe over the next 200 years. I have added a link for you below that will give you a basic idea about the origin of socialism. I would have written it all out for you but it is a long story.


Who did the idea of socialism come from?

Plato


What are the three basic economies?

capitalism, socialism, and communism


Who came up with the idea of socialism?

Teddy Roosevelt


What political idea was popular during the Industrial revolution?

socialism


The two most basic forms of planned economies are?

Communism and Socialism


In this type of economy the government owns the basic means of production?

Socialism


What has the author Abraham Simchah Sachs written?

Abraham Simchah Sachs has written: 'Di lehre fun sotsyalizm' -- subject(s): Socialism 'Basic principles of scientific socialism' -- subject(s): Socialism


Which was the body of ideas forming the basic tenets of modern socialism and communism?

Marxism


What was the idea that the government should own and operate industry for the community as a whole?

socialism


Who answers the three basic economic questions for market socialism?

Market Socialism cannot exist, so the question here is meaningless. Socialism means a classless stateless society based on production for use, with no wages or prices or money.