This integrating paper shows how the Philippines will look like if Marxs theory of socialism is applied in our current situation. It does not suggest, however, that we change our system to socialism. It seeks, rather, to present information and discussion for consideration by those who are interested in expanding their knowledge. Socialism is one of the two offshoots of Karl Marxs writings; the other being communism. It is both a critical analysis of and an answer to the excesses of capitalism. Its basic theoretical foundations are dialectical materialism, labor theory of value, and class struggle. It embodies two primary concepts, namely abolition of private ownership of the means of production and centralized economic planning in contrast to private ownership of property and free enterprise in capitalism. Socialist society is a transitory stage under the dictatorship of proletariat towards communism. Co-Existence of Democracy and Socialism The idea that Marxism and democracy are opposites is false. The fact is that under capitalism (which is usually referred to as democr......

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