In this episode of 'Basics with Dhruv Rathee' series, learn in detail about the different ideas of socialism. An ideology which inspired multiple generations of Indian revolutionaries.

Earlier socialism was defined as an economic system based on social interest. Rousseau and Proudhon argued for elimination of private property. Charles Fourier, Robert Owen advocated Utopian socialism, i.e. rich people be given moral values and they should share their wealth. Gandhi and Swami Vivekananda were inspired by such ideas. Karl Marx defined socialism as - from each as per his ability, to each as per his contribution. He saw it as an intermediate stage between capitalism and communism. Bhagat Singh was proponent of this revolutionary socialism. Fabian socialism was an ideology of Fabian society which talked about brining socialism through gradual reformist democratic measures. Jawahar Lal Nehru was a fabian socialist. Cooperative socialism implies socialization of means of production. John Meynard Keynes advocated that the government should organize and regulate the economic system, huge government spending so as to control recession, inequality, monopoly. In this video, I explain all such types of socialism. 

0:00 Introduction
0:32 What is Socialism?
1:16 Early History of Socialism
3:37 Ideology of Mahatma Gandhi
5:00 Socialism of Bhagat Singh
6:48 Karl Marx’s Dream
9:39 Practical Implementation
11:30 Advantages of Socialism
12:30 Pandit Nehru’s Ideology
15:50 China’s Socialism
16:33 Best version of Socialism?
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