Institution Instructor Course Date History Why is socialism so appealing? What are its fundamental flaws? Socialism refers to social and economic systems whereby combination and sharing of power dominate the two aspects of life. The opposite of socialism is capitalism. The system is appealing because it has several benefits in the socioeconomic life of human beings. For one it enhances the greater economy. This is because market forces are controlled by a central planning authority. Secondly it discourages monopolistic practices. It also prevents an economy from business fluctuations by ensuring full utilization of the resources available in an economy and in this way fast economic growth is also enhanced. Socialism enables even economies enjoy an advantage of improved transport and communication system. Education and health facilities among others are improved. However the concept has a negative side as well. The action may include exploitation of territories. It is almost similar to colonialism. It can be seen as a tool for degrading economic growth since wealth and natural resources are exploited. The more powerful states pretend to be good friends while they economically utilize the natural resources of their neighbor country for their benefit. In a long run the country realizes it doesn't have enough resources to meet its needs. Therefore the social and economic influence may come negatively or positively or from both sides. [...]
In the attachment are the 4 questions, please answer the questions. Each answer to the questions should be about 12 sentences long. Approximately altogether 500 words in total.