socialist model

The socialist model is an economic and social system where the community or government owns and manages key resources and industries, rather than private individuals. Its goal is to reduce economic inequality by ensuring that wealth and essential services, like healthcare and education, are accessible to all. Instead of profit-driven motives dominating, the focus is on meeting collective needs and promoting social welfare. Different countries adopt varying degrees of socialism, balancing public ownership with some private enterprise, aiming for fairness, stability, and shared prosperity.