Massachusetts AFL-CIO Scholarship Practice Exam

What political party was formed in 1901 that aimed for government ownership of factories and railroads?

1. Democratic Party

2. Republican Party

3. Socialist Party of America

4. Labor Party

The correct answer is: Socialist Party of America

The Socialist Party of America, formed in 1901, aimed to promote the idea of government ownership of key industries, such as factories and railroads. This reflected the party's broader ideological commitment to socialism, which advocates for collective or governmental control over the means of production and distribution of goods, in order to achieve social equality and economic fairness. The formation of the Socialist Party marked a significant moment in the American labor and political movements, as it sought to address the disparities experienced by workers during the industrial era and respond to the concentration of wealth among industrialists and capitalists. The party's platform resonated with many labor activists and advocates for social justice at the time, establishing a political alternative to the dominant two-party system represented by the Democrats and Republicans.