A. Baron de Montesquieu
B. A.V. Dicey
C. Karl Marx
D. Adam Smith
Correct Answer:
Option C – Karl Marx
Explanation
Kari Marx was one of the greatest advocates of Socialism.
Socialism may be defined as a social, economic, and political system in which the state owns and controls the means of production, exchange, and distribution of goods and services. The main aim of Socialism is to ensure equal distribution of the nation’s wealth.
Countries that practice this economic system (known as the Second World) include:
- Russia
- Czechoslovakia
- Bulgaria
- China
- Cuba
- Romania
- Albania
- Poland
- The German Democratic Republic.
Some African countries that have also practised this system at one time or the other include:
- Tanzania
- Ethiopia
- Angola
- Burkina Faso
- Guinea
- Mozambique etc.
Socialist economy is based on the central planning of all economic activities as opposed to the capitalist market price mechanism otherwise called capitalism.
Kari Marx, a German (1818 – 1883) was the founder and propounder of modern socialism.
The collaborator of Kari Marx in developing modern socialism was Friedrich Engels (1882-1895).
Vladimir Lenin led his Bolshevik faction of the Russian Social Democratic Party (now known as the Communist Party of Russia) to carry out the Socialist Revolution. That was in 1917 in the defunct Union of Soviet Socialist Republic (USSR)
