Socialism refers the fifth mode of production proposed by Karl-max, 1818 – 1883 where by all major means of production like Land, bank, industries etc. are public owned and there should not be Exploitation between man and man and the highest stage of socialism is called Communism.
Therefore socialism began in Europe after the industrial development led to the rise of the two antagonistic social users which where the proletariat(workers) and the capitalist or factory owners , especially after the industrial new there were intensive exploitation of workers led workers to form their union /working trade union to demand for their rights e.g.
Britain there was the rise of Chartism and Laddish and in France the inspiration of socialism was brought by the French new of 1989 which advocated for liberty, equality and fraternity to all, hence socialism was practiced in every part of the world , such as in Europe, Asia and Africa and it was most successful in Russia and other parts of eastern Europe, China, Northern Korea, Cuba and Africa. The main objectives of the socialism are as follows;-
(a) Fulfilling its aim by placing all major means of production in the hands of the people directly or through government ownership.
(b) Making resource available i.e. Oil, natural resources like minerals etc to be used according to the needs of the people.
(c) Replacing capitalism with socialism where capitalism was seen as an evil of mode of production in the society which used to make society not to enjoy in their life.
(d) To create a strong workers party; this will control the government on behalf of all people in the society.
(e) Eliminating exploitation of man by man, humiliation, segregation, oppression in the society.