socialism
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.
Compare utopian socialism.
4. 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. —Dictionary.com.
5. 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.
6. (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.
7. 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. —Dictionary.com.
8. any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
9. a system of society or group living in which there is no private property.
10. a system or condition of society in which the means of production are owned and controlled by the state.
11. 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.
Examples from Merriam-Webster:
Trump’s success in winning over Cuban American and Venezuelan American voters in Florida with his claims that Democrats would bring Venezuelan-style socialism to America. —Noah Bierman, Los Angeles Times, 26 May 2021.
For public consumption, Courage rarely frames local issues in terms of race, class and economics, much less socialism. —Bruce Selcraig, San Antonio Express-News, 23 May 2021.
Origin:
First recorded in 1830–40; social + -ism. —Dictionary.com. // First Known Use of socialism: 1833. —Merriam-Webster.
See "Socialism vs. Social Democracy: Usage Guide" and "Communism, Socialism, Capitalism, and Democracy" at Merriam-Webster.
Sources: 1, 2, 3.
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.
Compare utopian socialism.
4. 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. —Dictionary.com.
5. 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.
6. (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.
7. 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. —Dictionary.com.
8. any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
9. a system of society or group living in which there is no private property.
10. a system or condition of society in which the means of production are owned and controlled by the state.
11. 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.
Examples from Merriam-Webster:
Trump’s success in winning over Cuban American and Venezuelan American voters in Florida with his claims that Democrats would bring Venezuelan-style socialism to America. —Noah Bierman, Los Angeles Times, 26 May 2021.
For public consumption, Courage rarely frames local issues in terms of race, class and economics, much less socialism. —Bruce Selcraig, San Antonio Express-News, 23 May 2021.
Origin:
First recorded in 1830–40; social + -ism. —Dictionary.com. // First Known Use of socialism: 1833. —Merriam-Webster.
See "Socialism vs. Social Democracy: Usage Guide" and "Communism, Socialism, Capitalism, and Democracy" at Merriam-Webster.
Sources: 1, 2, 3.