Socialism [1] is a system of social organization that advocates a society that has equal access to resources and that it is available to everyone. Compensation would be commensurate with the amount of labor that was expended. Proponents of socialism view capitalism [2] as an unfair distribution of wealth and power. They feel that only a small percentage of the population enjoys the benefits of the capitalism and the wealth that is said to come from it. This, in their view, creates an exploitation of individuals and results in an unequal society.
Socialism is not a concrete or fixed doctrine. It has some aspects of social interventionism and economic rationalization but sometimes these concepts clash with each other. There is a lack of uniformity when it comes to many advocates of socialism. The reformists and revolutionaries disagree on how a socialist economy should be established. Then there are some socialists who believe that complete nationalization should be sought in areas of production, distribution and exchange. Then there are others who feel that state control of capital [3] should be achieved within the bounds of a market economy.
There are many socialists who have long admired the progress made by the Soviet model of economic development. They would like to see more systems of centrally planned economies that are solely directed by the state and the state owns all the means of production. There are other countries that advocated a type of market socialism that combined state ownership with free market exchange and a free price system.