What is the Meaning of the Socialistic Pattern of Society:
The Socialist Pattern of Society was introduced by Karl Marx in collaboration with Friedrich Engels. The Socialist pattern of society involves the role of central planning for decision-making.
According to the Planning Commission of our country, the Socialistic Pattern of Society implies, that the foremost and basic aspect in order to determine the advance lines should be social gain. It should not be a private profit gain. It also indicates that the socio-economic relations, as well as the developmental patterns, should be keenly planned. They should be such that larger equality in terms of income and wealth of the people is visible, and the employment disparities should be reduced as much as possible.
Some of the major features of the socialist pattern of society were :
- Equal distribution of wealth among all the people
- Unlimited access to good
- Free access to services
- Selling not for profit, but use
- Restriction to competitive trading in the market
- Social Welfare
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