In democratic socialism large, government-regulated businesses, industries, and social services are found working in harmony with participatory democracy, strong labor organizations, private ownership, and personal profit.

Question

Quizplus · Accepted Answer

Democratic socialism aims to have a mixed economy where both private and public sectors exist in cooperation with each other to provide social services and regulate industries. However, the government plays a larger role in regulating the economy and social services to ensure that they are more accessible to everyone. Additionally, labor unions are encouraged to ensure that workers have a say in decision-making processes. While personal profit is not the main focus in democratic socialism, it is still allowed as a means of providing incentives for innovation and entrepreneurship.

In Democratic Socialism Large, Government-Regulated Businesses, Industries, and Social Services