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Rebel Eichelberger

Dictionary

noun  so·cial·ism \ˈsō-shə-ˌli-zəm\

Popularity: Top 1% of lookups

Simple Definition of socialism

: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies

Source: Merriam-Webster's Learner's Dictionary
  

Full Definition of socialism

1:  any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

2a :  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 state

3:  a stage of society in Marxist theory transitional between capitalism and communismand distinguished by unequal distribution of goods and pay according to work done


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