Economics · A History of Economic Thought by V Lokanathan
Chapter 18 : UTOPIAN SOCIALISM
Table of contents47 sections
- 1.UTOPIAN SOCIALISM
- 2.Introduction
- 3.Key Terms
- 4.📌 Exam Tidbits
- 5.Social Background of Socialism
- 6.Key Terms
- 7.📌 Exam Tidbits
- 8.Forms of Socialism
- 9.Key Terms
- 10.📌 Exam Tidbits
- 11.Socialistic Pattern of Society
- 12.Key Terms
- 13.📌 Exam Tidbits
- 14.Utopian Socialists
- 15.Key Terms
- 16.📌 Exam Tidbits
- 17.Saint-Simon (1760-1825)
- 18.Saint-Simonians
- 19.Conclusion
- 20.Key Terms
- 21.📌 Exam Tidbits
- 22.Fourier (1772-1837)
- 23.Phalanxes or Phalansteries
- 24.Conclusion
- 25.Key Terms
- 26.📌 Exam Tidbits
- 27.Robert Owen (1771-1858)
- 28.Villages of Co-operation
- 29.National Equitable Labour Exchange
- 30.Conclusion
- 31.Key Terms
- 32.📌 Exam Tidbits
- 33.Louis Blanc (1811-1882)
- 34.Conclusion
- 35.Key Terms
- 36.📌 Exam Tidbits
- 37.Proudhon (1809-65)
- 38.Anarchism
- 39.Attack on Government
- 40.Property
- 41.Bank of Exchange
- 42.Key Terms
- 43.📌 Exam Tidbits
- 44.An Estimate of Utopian Socialists
- 45.Key Terms
- 46.📌 Exam Tidbits
- 47.Quick-Recall Box
Chapter preview
UTOPIAN SOCIALISM
Introduction
- Ancient Roots: Socialistic ideas trace back to ancient writers like Plato. Plato advocated for the abolition of private property, opposed the institution of marriage for rulers, and advocated the idea of a ‘community of wives’.
- Modern Origin: Socialism as a dominant social and economic philosophy is essentially a nineteenth-century product, though ideas gained ground towards the end of the eighteenth century.
- Core Tenets of Socialists:
- Oppose laissez-faire and advocate State intervention.
- Reject the classical belief in the harmony of interests among different classes; instead, they recognize the existence of class conflict.
- Advocate collective action and public ownership.
- Believe in the perfectibility of man (giving their programmes a touch of idealism).
Key Terms
| Concept | Definition |
|---|---|
| Socialism (General) | A 19th-century social and economic philosophy that opposes laissez-faire, advocates State intervention, collective action, and public ownership, recognizes class conflict, and believes in the perfectibility of man. |
📌 Exam Tidbits
- Plato: Advocated abolition of private property and 'community of wives' for rulers.
- Socialism vs Laissez-faire: Socialists explicitly oppose laissez-faire and harmony of interests, advocating instead for State intervention and recognizing class conflict.
Social Background of Socialism
- Context: The Industrial Revolution took place in England roughly between 1750 to 1850.
- Economic Impact: The factory system emerged, large-scale production became the rule, and the overall wealth of England increased.
- Social Consequences (The Catalyst for Socialism):
- Terrible concentration of wealth → the rich became richer and the poor poorer.
- Exploitation of workers: low wages, long hours of work, and employment of child and women labour.
- State inaction: The government did nothing to reduce mass suffering due to its laissez-faire policy.
- Workers faced disease, hunger, and misery.
- Women lacked political rights, and workers had no right of association (trade unions).
- These combined hardships gave birth to socialistic ideas.
Key Terms
| Concept | Definition |
|---|---|
| None | No specific terms were explicitly defined in this section. |
📌 Exam Tidbits
- 1750 to 1850: The rough period of the Industrial Revolution in England that provided the social background for socialism.
- Causal Chain: Laissez-faire policy + Industrial Revolution → Concentration of wealth & worker exploitation…
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