 By the students, the word socialism finds its root in the Latin word sosir, which means to combine or to share the related more technical term in Roman and then in medieval law was sositas. This letter word could mean companionship and fellowship as well as the more legalistic idea of a consensual contract between free men. Socialism, each according to Needs principle that you are a part of a state, a part of a nation, a part of a society, a part of a community, you are a free man and you are doing proper work, so the services and products produced in the society are each according to the needs of the base. There is also an element of ability in this society to participate and be like a family and not to consume more products and services. Socialism means companionship and fellowship and this is a consensual contract between free men. My dear students, the economy of the third century BCE, Mayur Empire of India was described as a socialized monarchy and a sort of state socialism. When you are just in approach, when you are reasonable, when you have defined the purpose of life, when you have real understanding of life, when you have real understanding of human existence, then philosophically socialism has some value. But we are living in a state, living in a globe, where different people of thought are present. On the one hand socialism, on the other hand capitalism. So naturally then we have to cooperate and reasonably sustainable life is to be spent in the world, so we have to create some balance between these different thoughts. Elements of socialist thought were discerned in the politics of classical Greek philosophers like Plato and Aristotle, Musdaq, a Persian communal proto-socialist who instituted the phenomena that the all are family like members and therefore whatever is produced in the form of product and services must be distributed on the principle each according to need. Socialism se thodaise aage jo naam socialism ko diya jata hai with a little change is communism. And the first Paris commune was a government that ruled Paris from 18th March to 28th May 1870. So the Paris commune government which ruled over the principle of socialism and communism was in the era of 1871. Dear student, apart from this, Lenin in Russia also threw away the enhancement to communism. After the Russian Revolution, communism remained in Russia and in which this principle was applied that whatever products and services produced in the society should be distributed on the principle of each according to need. The principle of capitalism is each according to work and ability. So socialism works on the principle of work. Work and then use the products and services according to your needs. Hope you have understood the topic. Thank you very much.