Socilism refers to any economis theories that deals with a state or government owning the means of production. This includes capital, land, and companies. It is known that socialism is the transitional stage between capitilism and communism. That is the differencebetween having a class society to a classless society.
In addition, this leads to Obama. Recently people have acussed Obama of becoming a socialist. Most of these complaints come about because of the financial crises. With so many companies and banks failing the government is pressured to take control of them before they fail.
Also because of the economic crises many families are finding it health care very expensive. Obama, trying to lower health care and make it affordable is trying to have the government control the health care system. So in an essence he wants to control health care and give everyone the same amount of coverage. Such ideas is in use in countries such as France, Spain, and Canada.
Additionally, as a result of the government taking over the health care system he believes many positive things will come out of it. Such positive things is the reduction of long-term growth of health care costs for businesses and government. In addition to ending barriers to coverage for people with pre-exisiting medical conditions. All these ideas are great but will they work is the question.
In conclusion, socialism is when the governemt owns the means of production. In the past it has proven to work and fail. In modern countries such as Canada and Spain it has proven to work and save money and lives when talking about health care. Obama has advocated in controlling the health system but the question is will it work and will the tax payers be happy?