Socialist economy

Socialist Economy

I. Definition

II. Laos
A. Products
B. Reduction of poverty
C. Investment

III. North Korea
A. Public System
B. Improvement of life
C.Organization

IV. Conclusion

Socialism refers basically to the theories of economy which include the public or direct worker ownership of a factory or of the means of production. Socialisteconomy is basically a system of economy in which the desire is to get more value or importance to the use of the product than to sell the product for getting much cash. Giving more control of the means ofproduction to the workers and giving a better equality. It gives them a different way of thinking it’s not just getting cash but getting a good item and giving more importance to how it is used andits quality. The problem is that the socialist economy has lot of economic theories and not all of them agree. In those theories we can find: Marxian economics which base on the way of thinking of Marx,the Lange model, participatory economics, cooperative economics and the most used which is the mixed economies.

There is a pretty big list of the countries that manage a socialist economynowadays such as: Venezuela, China, Vietnam, Syria etc…
Laos is also one of those countries which have a socialist economy. Laos is a really poor nation of Asia but even though its commercehas grown as it produces lots of products by its own. Most of it comes from agriculture. They get rice, sweet potatoes, vegetables corn and peanuts. Laos is also one of the few countries remaining witha one party communist state. And during the last years they have advanced economically, even though they are not a rich technological country it is socialist it don’t depends on other country and getsall by their own. Their road system is rudimentary but it is improving and their telecommunications are limited. The economic growth that Laos had helped the country in every aspect, it reduced the...