Socialism – Definition and More from the Free Merriam-Webster Dictionary

so·cial·ism noun \ˈsō-shə-ˌli-zəm\Definition of SOCIALISM1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods2a : a system of society or group living in which there is no private propertyb : a system or condition of society in which the means of production are owned and controlled by the state3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done See socialism defined for English-language learners »See socialism defined for kids »Examples of SOCIALISMShe is quite right, for example, to stress that Thatchers crusade against socialism was not merely about economic efficiency and prosperity but that above all, “it was that socialism itself—in all its incarnations, wherever and however it was applied—was morally corrupting.” —Stephen Pollard, New York Times Book Review, 18 Jan. 2009[+]moreFirst Known Use of SOCIALISM1837

via Socialism – Definition and More from the Free Merriam-Webster Dictionary.

 

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