Final answer:
Socialism has two extremes: communism, advocating for nearly complete public ownership, and a moderate form where essential services are government-controlled, yet private ownership is maintained with regulation. Levels of control also vary from centralized in communist states to decentralized in other socialist perspectives.
Step-by-step explanation:
The two extremes that socialism has branched off into are represented by diverging views on the extent of economic control and the level of societal control. At one extreme are those who believe that almost everything except very personal possessions should be publicly owned, which aligns with the ideas of communism. On the other end are socialists who advocate for control over only essential services, such as healthcare and education, while allowing private ownership of businesses subject to regulation. This moderate form of socialism is distinct from communism, as it maintains some aspects of private enterprise.
Moreover, when examining the level of control, communist states such as the former Soviet Union and China have historically exerted centralized control over their economies. In contrast, other socialists support the idea of decentralized control, allowing local entities such as communities to manage industries directly affecting them.
Historically, socialism as a movement has undergone significant changes, evolving from the optimistic visions of utopian socialism to the more structured and often state-led socialism inspired by thinkers like Karl Marx and Friedrich Engels.