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Translate files Socialism
/ˈsoʊʃəˌlɪzəm/
Meaning & Definition
noun
A political and economic theory advocating collective or governmental ownership and administration of the means of production and distribution of goods.
Many countries have implemented socialism to address issues of wealth inequality.
A system in which the government owns and controls all major businesses and resources, aiming to achieve a more equitable distribution of wealth.
The rise of socialism in the 20th century significantly altered global politics.
A political movement that seeks to establish a socialist system.
The socialist party campaigned vigorously for reforms that would advance socialism in the country.
A doctrine that promotes social ownership as opposed to private ownership.
Critics argue that socialism stifles individual initiative and innovation.
Etymology
Derived from the Latin 'socialis' which means 'of companionship, of society'.
Common Phrases and Expressions
democratic socialism:
A political ideology that advocates for political democracy alongside social ownership of the means of production.
socialist principles:
The foundational beliefs and practices that underpin socialist ideology.
state socialism:
A form of socialism where the state has substantial control over the economy and social policy.
Related Words
Slang Meanings
Socialism Lite
Some people view certain welfare programs as socialism lite, a milder version of socialism.
Socialist agenda
Critics might label any government initiative they dislike as part of a socialist agenda.