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socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
Socialism is a form of government in which most forms of property, including at least the major means of production and natural resources, are owned or controlled by the state.
socialism, System of social organization in which private property and the distribution of income are subject to social control; also, the political movements aimed at putting that system into practice.
Democratic socialism, political ideology that supports the establishment of a democratically run and decentralized form of socialist economy. Modern democratic socialists vary widely in their views of how a proper socialist economy should function, but all share the goal of abolishing capitalism.
Under socialism, the means of production are owned or controlled by the state for the benefit of all, an arrangement that is compatible with democracy and a peaceful transition from capitalism. Marxism justifies and predicts the emergence of a stateless and classless society without private property.
SOCIALISM meaning: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies.
Socialism is a way to organize a society. It deals mostly with the economy, or the part of a society that creates wealth. The goal of socialism is to spread wealth more evenly and to treat all people fairly.
Socialism is an economic and social policy in which the public owns industry and products, rather than private individuals or corporations. Under socialism, the government controls most means of production and natural resources, among other industries, and everyone in the country is entitled to an equitable share according to their contribution ...
The first is a transitional system in which the working class controls the government and economy yet still pays people according to how long, hard, or well they work. Capitalism and private property exist, though to a limited degree. This phase is widely regarded as socialism.
Capitalism, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately held and production, prices, and incomes are determined by markets. Learn more about the history and development of capitalism in this article.