What is "socialism"? - An attempt to clear up myths/misconceptions

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donathos said: 

Socialism (in whatever guise) requires people to act, not out of their own individual interest, but for the good of the state, or society, or the community, etc. 

This is actually a false premise. Many socialists are/ were strong individualists. Egoist communism, based on the theories of Max Stirner is a thing. 

Usually the argument is that social cooperation benefits the individual, as there are many interests which overlap. 

In so much that interests don't overlap nobody should be forced into a social institution or contract.