Definition of socialism Socialism

/sowˈʃʌlɪˌzʌm/ - [sowshulizum] - so•cial•ism

We found 9 definitions of socialism from 6 different sources.

What does socialism mean?

WordNet

Noun Plural: socialisms
socialism - an economic system based on state ownership of capital
		socialist economy
		capitalism, capitalist economy an economic system based on private ownership of capital
		managed economy a non-market economy in which government intervention is important in allocating goods and resources and determining prices
		communism a political theory favoring collectivism in a classless society
		international any of several international socialist organizations
socialism - a political theory advocating state ownership of industry
		political orientation, political theory, ideology an orientation that characterizes the thinking of a group or nation
		fabianism socialism to be established by gradual reforms within the law
		guild socialism a form of socialist theory advocating state ownership of industry but managements by guilds of workers

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Wiktionary

socialism (Noun)
Any of various economic and political philosophies that support social equality, collective decision-making, distribution of income based on contribution and public ownership of productive capital and natural resources, as advocated by socialists.
socialism (Noun)
The socialist political philosophies as a group, including Marxism, libertarian socialism , democratic socialism , and social democracy .
socialism (Noun)
The intermediate phase of social development between capitalism and full communism. This is a strategy whereby the state has control of all key resource-producing industries and manages most aspects of the economy, in contrast to laissez faire capitalism.

Webster DictionaryWebster's Unabridged Dictionary 📘

socialism (n.)
A theory or system of social reform which contemplates a complete reconstruction of society, with a more just and equitable distribution of property and labor. In popular usage, the term is often employed to indicate any lawless, revolutionary social scheme. See Communism, Fourierism, Saint-Simonianism, forms of socialism.

OmegaWiki DictionaryOmegaWiki Dictionary Ω

socialism
Refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to social control.

Wikipedia

Socialism is the name for a set of economic and political ideas.

Overview.

Socialism can refer to a large number of Political systems, almost all of which are Left Wing. In general, Socialist systems want to redistribute wealth from those of greater means to those of lesser means. Here are the most common kinds of Socialism.

One feature of Socialism involves industries being controlled by the state, or "Nationalised". This is intended to allow all citizens to own the "means of production."

Another common feature of Socialism involves higher taxes. This is meant to give the government more funds, so that they can provide higher quality welfare. Sometimes taxes are only slightly higher, and sometimes they are much higher, depending on how much the government wants to improve welfare. Many different countries do this in different ways.

Another feature of Socialism involves people working directly for the state, rather than private companies. The state pays the workers' wages, and the goods produced are used by the state, usually to improve the country. This form of Socialism is less common nowadays, but is still around in several countries.

A final kind of Socialism involves "Collectivisation". Under this system, money and goods are shared more equally among the people, with the government in control. In theory, this system results in the rich people losing money, and the poor people getting more money. If this is used on a very large scale in a country, it is known as "Communis