Choose given statement is true/false:

Socialists had different visions of the future. Some believed in the idea of cooperatives while others believed in the division of profits.

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Detailed Solution

The above statement is True.
Different futures were envisioned by socialists. Some people supported the concept of cooperatives. These cooperatives were to be groups of people that created items jointly and shared earnings according to the amount of labour each member contributed. Leading English manufacturer Robert Owen (1771–1858) aimed to create the cooperative city of New Harmony in Indiana (USA).
On the other hand, Karl Marx held that workers needed to create a truly socialist society where all property was collectively managed in order to be freed from capitalist exploitation.

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