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What are the differences between Liberalism vs. Socialism?

What Makes Liberalism Different From Socialism?

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What is Liberalism?

• It is a concept which has 2 types: modern liberalism and classical liberalism.
• In modern liberalism, the state interferes with the lives of its citizens for it to ensure security in its social, political and economic aspects. It is similar to socialism in the sense that both concepts believe that the state can help their citizens prosper by monitoring them to make sure that they are on the right path towards success. Both concepts also promote the control that the state needs to have on private companies and on the economy.
• Modern liberalism is being advertised by a lot of politicians nowadays because they believe that the only way for the state to solve its social and economic issues is for it to have power on every aspect of the society. However, it’s a sad fact that these politicians only want to implement their personal interests and that’s the main reason why they want to have all the power that they can get.
• In classical liberalism, the state doesn’t enforce an iron grip on its citizens when it comes to implementing order and all of its laws. The state in this kind of society provides services to its citizens for free by taking in charge of an institution.

What is Socialism?

• It is a concept that encourages the state to take full control on the wages of employees and prices of commodities for it to have complete power over the economy.
• Based on the concept of socialism, social equality and positive economic development are said to be achieved by giving the government complete political and economic power.
• In a society which is governed by the principles of socialism, its citizens need to follow the law in order for them to get rationed resources from the state.

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