Socialism is one of the most important creeds of our times. It is a natural result of the capitalistic system in which the working classes are badly treated and exploited by the capitalists. Socialism gives practical shape to the feeling of those who believe in justice and equality of man. It opposes the exploitation of man by man.
Socialism believes that it is wholly unjust for the rich to live on the labour of others. The poor labourers work day and night; but can hardly get two square meals a day. The whole profit is eaten up by the capitalist. Socialism aims at preventing exploitation of man by man in any form. It holds that those who work have the right to enjoy the fruit of the labour.
Socialism demands that there should be equality in the world. Equality is the basis and the true spirit of Socialism. But equality does, not mean equality of income or other material possessions. This is wholly impracticable and it is not this type of equality that Socialism aims at Social ism insists on equal opportunities for all members of the society.
Equality according to socialism means that the children of all classes should have equal opportunities of getting proper education. The son of a labourer should have the same facilities to develop his natural talent as the son of a minister. Similarly every member of the society should have equal opportunities of choosing his career according to his talent and capabilities.
Socialism believes that the system of leaving property for the future generations is one of the main causes of rank inequality. A man may earn as much as he likes and enjoy life. But there should be nothing like inheritance. Socialism, therefore, is against the system of private property.
Socialism is not a rival of democracy. On the contrary it aims at creating an economical as well as political democracy. It regards the state as a welfare agent. Like Communism, Socialism is not a body of dogmas but a way of life. It voices the demands of equality and justice and rule of law in the society.
If humanity is to survive, the capitalist system must be replaced by new type of world. In this new world the humanity and the good of all will be the guiding principle. Socialism works for a new world in which each may live for all and all for each.