levo

Socialism and Communism

Public ownership and the means of production

  • 3 things to know
  • A2 Unit 3

Overview

Means of production, public corporation and producer co-operative.

What you need to know

Answer each one before you reveal it.

Your recallNot started
Key term

Define the means of production.

Key term

Why do socialists focus on who owns the means of production?

Key term

Define nationalisation.

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    Define the means of production.

    Model answer

    The land, buildings, machinery and other resources used to produce goods and services.

  2. 2

    Why do socialists focus on who owns those resources?

    Model answer

    Ownership determines who decides what is produced and who receives the wealth created, which shapes every other inequality.

  3. 3

    Define nationalisation.

    Model answer

    The transfer of an industry or enterprise from private hands into state ownership.

  4. 4

    What did Clause IV of the Labour Party constitution of 1918 commit the party to?

    Model answer

    Securing for workers the full fruits of their industry through common ownership of the means of production, distribution and exchange.

  5. 5

    What happened to that commitment in 1995?

    Model answer

    The clause was rewritten to describe a dynamic economy combining enterprise with a commitment to community and solidarity, dropping the pledge to common ownership.

  6. 6

    Name three industries taken into public ownership in Britain between 1946 and 1949.

    Model answer

    The Bank of England in 1946, coal in 1947 and the railways in 1948.

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AAccess is bought rather than earned.
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Statute law is enacted by the legislature.
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