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Socialism
/ˈsəʊʃəlɪzəm/
Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
📖 Definitions of "Socialism"
noun
- 1
Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
- 2
The intermediate phase of social development between capitalism and communism in Marxist theory in which the state has control of the means of production.
- 3
Any left-wing ideology, government regulations, or policies promoting a welfare state, nationalisation, etc.
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