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or Mrs. They both believed in the fact that the government should control all business decisions. In economics, there are three main decisions that are to be made: 1. What to produce?, 2. How to produce it?, and 3. For whom should it be produced? In an economy based on socialism, these decisions are solely made by the government. In other words, the government decides what to make, what process they are going to use to make it, and who they will make the products for. These are basically the only similarities between the two forms of socialism.
Now, it is time to take a look at the differences in the views of Utopian Socialism and Scientific Socialism...
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