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Socialism is an economic and political philosophy encompassing diverse economic and social systems [1] characterised by social ownership of the means of production, [2] as opposed to private ownership. [3][4][5] It describes the economic, political, and social theories and movements associated with the implementation of such systems. [6]
Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to socialism, everything that people produce is in some sense a social product, and everyone who contributes to the production of a good is entitled to a share in it.
Communism, Socialism, Capitalism, and Democracy Socialism vs. Social Democracy vs. Democratic Socialism: Usage Guide any of various egalitarian economic and political theories or movements advocating collective or governmental ownership and administration of the…
Socialism describes any political or economic theory that says the community, rather than individuals, should own and manage property and natural resources. The term “socialism” has been ...
Socialism. First published Mon Jul 15, 2019; substantive revision Sat May 25, 2024. Socialism is a rich tradition of political thought and practice, the history of which contains a vast number of views and theories, often differing in many of their conceptual, empirical, and normative commitments. Going back a century, Angelo Rappoport in his ...
Socialism is an economic, social, and political system based on public rather than private ownership of a country’s means of production. Means of production include the machinery, tools, and factories used to produce the goods needed to satisfy human needs. In a socialist system, all decisions regarding production, distribution, and pricing ...
Socialism is a populist economic and political system based on collective, common, or public ownership of the means of production. Those means of production include the machinery, tools, and ...
Socialism. Socialism is an economic system in which major industries are owned by workers rather than by private businesses. It is different from capitalism, where private actors, like business owners and shareholders, can own the means of production. The state can also act as a capitalist by owning the means of production and by directing the ...
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. The aim of public ownership is to ensure that production is responsive to the needs and desires of the general population and that goods and services are distributed ...
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 rather than improving it through state regulation (as preferred by social democrats).