How does India Socialism contrast with Socialism embraced by the Communist countries? Discuss the idea of Democratic socialism.
India socialism postulates that individuals own personal properties while industrial properties are to be owned by democratically elected officials. However, in communist countries, all properties are owned by the public.
Democratic socialism believes that all of the economic assets should be owned by the public but should be managed by a politically elected government that controls and strategizes its operation. Democratic socialism opposes capitalism that believes that all individual properties to be managed by individual owners.