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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]
Article. Vocabulary. Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society. General Socialism.
Oct 10, 2019 · Socialism describes any political or economic theory that says the community, rather than individuals, should own and manage property and natural...
Socialism is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
Socialism. Socialism is both an economic system and an ideology (in the non-pejorative sense of that term). A socialist economy features social rather than private ownership of the means of production. It also typically organizes economic activity through planning rather than market forces, and gears production towards needs satisfaction rather ...
Jul 15, 2019 · Socialism. First published Mon Jul 15, 2019. 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.
Nov 20, 2020 · Most fundamentally, socialism is a political, philosophic, and economic system in which the means of production—that is, everything that goes into making goods for use—are collectively controlled, rather than owned by private corporations as they are under capitalism, or by aristocrats under feudalism.
