Question

The Socialist Theory is the combination of ___________________________.
A] Elitist theory and Marxist theory
B] Pluralist theory and Marxist theory
C] Liberal theory and Marxist theory
D] Pluralist theory and Elitist theory

Answer 1

Hint: Socialism is an anti-elitist economic and political edifice centred around the ownership of means of production are controlled by the people as a group (also known as collective or popular ownership). Socialists argue that a fairer distribution of goods and services and a more prosperous community are created through mutual ownership of capital and central planning. Or, as it is defined in an old socialist slogan, "from each according to capacity, to each according to need."

Complete step by step answer:
In opposition to the excesses and abuses of liberal individualism and capitalism, socialism evolved. As western European countries witnessed industrial development and prolific economic growth at a rapid rate during the early capitalist economies in the late eighteenth and nineteenth centuries, people and families who were able to access the resources rapidly rose to prominence, while others fell into poverty, causing income inequality and other social problems. The concept of socialism demanded equal rights and possession of commodities to everyone in order to wipe out poverty.
Robert Owen, Henri de Saint-Simon, Karl Marx, and Vladimir Lenin were the most renowned early socialist thinkers. After the 1917 Bolshevik Revolution in Russia, it was mainly Lenin who explored the proposals of earlier socialists and helped bring socialist planning to the national level. Socialism had come to represent resistance to capitalism and agitation for a post-capitalist society based on some form of social ownership of the means of production in the late 19th century, after the work of Karl Marx and his collaborator Friedrich Engels including ‘Das Kapital’ and ‘Communist Manifesto’ which is known as the backbone of socialism. By the 1920s, within the international socialist movement, communism, and social democracy had become the two dominant political trends in the world.
The socialist theory is the base concept of communism which evolves around two concepts; liberalism and Marxism. Liberalism and Marxism are two schools of thinking that have deeply left in sociological, political, and economic theory, imprints. They are commonly perceived as Rival methods, as opposed. There is a seemingly insurmountable divide in the field of democracy around the issue of political vs. economic democracy. The former is stressed by leftists, the latter by Marxists.
Liberalism is a philosophical, political, and economic philosophy and doctrine that stems from the position that the legal foundation of society and economic order are individual freedoms. A democracy with freedom of action for all, the free exchange of politically sensitive knowledge, limitation of the power of church and state, the rule of law, private property, and freedom of private enterprise is the ideal of liberalism. Marxism is a metaphysical, political, and economic theory and a movement founded in the middle of the nineteenth century by Karl Marx. Marx's theory of the numerous political groups and movements in social thought and political practice has various interpretations. Along with left-anarchism, Christian socialism, and Marxism, political Marxism is a version of socialism and is not the host component of Democratic Socialism/Social Democracy.

So, the correct answer is Option :

Note: In contemporary forms of political governance, the ideas of liberalism and Marxism are incompatible because both liberalism and Marxism were developed at a time when they were necessary, when it was worth attempting, enforcing. While these ideas sound ambitious and promising to some people, these ideas are morally old for the modern world and economy and are not valuable for most countries because the world has changed, the values have changed, and capitalism is the most powerful and modern structure of the existing way of life that suits society.