Socialism is an economic and political philosophy that centralises among the theory of public ownership. Here the resources of society including the land, factories, technology, transport systems etc. are owned equally by the public however run by the government. In a socialist society individuals have the right to participate in decisions on how resources will be used, with the government having the ultimate authority. Therefore socialism is where individuals do not have personal control of resources beyond their personal possessions (eg. clothes, food).
Communism is a higher form of socialism. It is an economic and political system in which wealth is shared equally between a nation however economic activities are owned and controlled completely by the government not by the people. Communism and socialism are based on the philosophy of Karl Marx whom proposed the radical idea of eradicating capitalism. His theory was not just an idea in the 20th century it was rapid growing concept that began being evoked by World leading powers such as the Soviet Union and China, where previously successful revolutions took place.
Socialism and Communism arose in the late 18th and early 19th century as a reaction to the economic, political and social changes associated with the Industrial Revolution. Rapid wealth increased to factory owners whereas workers became increasingly impoverished due to harsh living and working conditions. As this capitalist industrial system spread, reactions in the form of socialist thought increased making it obvious that there was a dyer need for a revolution.
This theory spread throughout the world into the early 20th century. After many socio-economic changes nations began to base their socialist/communist views on the ideologies of Karl Marx. Marx believed that the injustice in capitalism determined that the industrial working class would be overpowered by the affluent people of society. Hence he believed that capitalism was a system...