What is the difference between Socialism and Liberalism?

Liberalism means doing individual actions. There are some people who believe that the things that they do individually can already make a difference in the world and there is nothing wrong with this at all.

Socialism, on the other hand, is the belief that there is a need to do collective action so that something can be done appropriately. In Liberalism, there is also a belief that there are different opportunities that will be available and people should grab those opportunities in order to make a difference. For socialism, this is the belief that there should be equal outcomes that are given to people.

Socialism is an economic or political system that is characterized by governmental ownership of the means of production as well as the distribution of goods. Socialism ensures the prices of goods are controlled by the state by using certain instruments. In addition to this, the wages of workers are also determined by the state. In socialism, citizens are expected to comply with the existing laws that are meant to maintain social order.

Liberalism, on the other hand, is an economic ideology that supports the free market i.e.an economic system that is free of government intervention. Liberalism is also a political ideology that supports the personal freedom of every citizen without any move by the government to make and enforce harsh laws. However, this little difference between liberalism and socialism ends when you consider the fact that modern liberalism also allows the government to make and enforce the law in a bid to maintain social security.