Socialism The terms socialism and communism were once meshabley used together. However, today the term communism indicates theories and movements that advocate the abolition of capitalism and all individual profit, by means of vicious revolution if necessary. Such a view was held by the founders of the Fabian Society, which was organized in 1884 by British social reformers Beatrice and Sidney Webb and the people they are associated with. In 1893, the Fabians helped the British Independent …showed first 75 words of 468 total…

…showed last 75 words of 468 total…as did Albania, and later on so did Cuba. Largely socialists were the merging nations of Africa, Asia, and Latin Amercica. After 1968 the socialists party gradually declined. Socialist political parties have endured setbacks in elections in those countries in which they form half of the two-party system, as in New Zealand in 1975 and in Great Britain in 1979. Nonetheless, extensive and fundamental parts of the socialist program are everlasting features of contemporary economic and social life