How does socialism address the issue of poverty alleviation?

Economics Socialism Questions



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How does socialism address the issue of poverty alleviation?

Socialism addresses the issue of poverty alleviation by advocating for the redistribution of wealth and resources within society. It aims to create a more equitable distribution of income and opportunities, ensuring that everyone has access to basic necessities and a decent standard of living. Socialism typically involves the provision of social welfare programs, such as healthcare, education, and housing, which are funded through progressive taxation. Additionally, socialist systems often prioritize collective ownership and control of key industries and resources, aiming to eliminate exploitation and reduce income inequality.