Abstract
For many centuries, Capitalism has been the only economic system in the industrialized world. In the present world, this system is in crisis. Billions of people live below the poverty line without any access to food, health care or housing. By capitalism, we mean a system of production that belongs to a few individuals. Many theorists such as Karl Marx have imagined another way of organizing the world: Socialism. Socialism is a centralized system of production that meets the needs of people. In this document, we find out if the time has come to change the societal mindset to that of socialism. We will talk about the crisis of capitalism and explore another possible and viable vision of economics, called socialism.
