Ethical Socialism (theory)

Ethical socialism is a political philosophy that advocates for a fair and just society through collective ownership and control of resources, emphasizing moral responsibilities like equality and social welfare. It argues that economic systems should serve people’s needs rather than profit alone, promoting cooperation and community well-being. Ethical socialists believe that ethical principles—such as fairness, justice, and compassion—should guide economic and social policies. Overall, it seeks to balance individual rights with societal good, aiming for a system where wealth and opportunities are shared more equally, fostering social cohesion and reducing inequality.