Socialism, in theory, means free markets decide what, how and who receives the goods and services produced. True or False?
Naturally, with a question like this, you would want to base your answer off of class discussion, course texts, and instructor insight. Yet, even with all of these, I cannot see the statement as true. It would have to be false because socialism is a repudiation of the free market. For the socialist, the free market should not be deciding what, how, and who receives the goods and services produced. The socialist believes that it is up to the government or the governing body to divide up property and the means of production. Socialism believes that the free market has succeeded only in creating extreme disparities in wealth and in privilege. The free market cannot be depended upon to rectify itself. Rather, the government or community element must do what the free market has failed to do in ensuring that the goods and services produced along with the means of production remains in control of the people and the larger collective element. The idea of free market deciding what, how, and who receives what is produced is capitalism, a condition that socialism repudiates. The statement is false.