socialism

[ soh-shuh-liz-uhm ]

noun

1. a theory or system of social organization that advocates the ownership and control of the means of production and distribution, capital, land, etc., by the community as a whole, usually through a centralized government.
2. procedure or practice in accordance with this theory.
3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.

socialism

/ ˈsəʊʃəˌlɪzəm /

noun

1. an economic theory or system in which the means of production, distribution, and exchange are owned by the community collectively, usually through the state. It is characterized by production for use rather than profit, by equality of individual wealth, by the absence of competitive economic activity, and, usually, by government determination of investment, prices, and production levels Compare capitalism
2. any of various social or political theories or movements in which the common welfare is to be achieved through the establishment of a socialist economic system
3. (in Leninist theory) a transitional stage after the proletarian revolution in the development of a society from capitalism to communism: characterized by the distribution of income according to work rather than need

socialism

1. An economic system in which the production and distribution of goods are controlled substantially by the government rather than by private enterprise , and in which cooperation rather than competition guides economic activity. There are many varieties of socialism. Some socialists tolerate capitalism , as long as the government maintains the dominant influence over the economy; others insist on an abolition of private enterprise. All communists are socialists, but not all socialists are communists.

Other Words From

• pre·social·ism noun
• semi·social·ism noun
• un·social·ism noun

Word History and Origins

Origin of socialism¹

First recorded in 1830–40; social + -ism

Example Sentences

Let’s start talking about socialism.’

From Slate

Daniel Campo, a Venezuelan-American, said that Trump's claims of creeping "socialism" reminded him of the situation he left in his home country.

From BBC

In a tight Orange County congressional race, mailers sent by GOP Rep. Michelle Steel link Democrat Derek Tran to Mao Zedong and socialism, while Tran’s ads say Steel can’t be trusted to “stand up to China”

From Los Angeles Times

In a tight Orange County congressional race, mailers sent by GOP Rep. Michelle Steel link Democrat Derek Tran to Mao Zedong and socialism, while Tran’s ads say Steel can’t be trusted to “stand up to China”

From Los Angeles Times

Prosecutors said the group planned to create a government "inspired by National Socialism" - the far-right totalitarian ideology associated with Adolf Hitler's Nazi Party.

From BBC

Related Words

• communism