Submit a paragraph about Socialism and the Theories of Karl Marx

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Socialism is a political and economic theory of social organization which advocates that the means of production,distribution,and exchanged should all be owned or regulated by the community as a whole. So think of that by like the old soviet union or cuba everything is basically state run so hospitals work places farms etc there is no public property unless you are producing goods for the economy as a whole. Many social programs aswell in a socialism state as well as lack of stock exchange because they have tariffs on other countries and are an isolationist. Karl marx basically believed in that everyone should work together and unionize a workplace so instead of the workers and owners being separated they all come collectively to make decisions.Another theory is that the value of a produced economic good can be measured objectively by the average number of labour hours required to produce it. Hope that helps!