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
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
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
A term covering many belief systems that oppose the concentration of wealth and power that is a natural part of capitalism Whereas capitalists emphasize freedom for the individual to possess private property, socialists emphasize the well-being of the community They strive to achieve this through many methods, including public ownership, regulation, and state-sponsored social programs Socialism has taken on many different forms throughout the world, with varying degrees of success Some socialists favour a gradual move away from unrestricted capitalism and the maintenance of a democratic society; others favour force to overthrow capitalism and distribute wealth
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 market, in contrast to laissez faire capitalism
n a political and economic theory advocating collective ownership of the means of production, and collective control of distribution It advocates use of coercive force by the civil government to attain the "ideal" of economic and social fairness and equality In practice socialism always leads to an aristocracy which brutally enforces its "ideal" upon the rest of society
a theory or system of social organization by which the major means of production and distribution are owned, manages, and controlled by the government, by an association or workers, or the community as a whole
An economic and political system in which private property is abolished and the means of production (i e , capital and land) are collectively owned and operated by the community as a whole in order to advance the interests of all In Marxist ideology, socialism is considered an intermediate stage in the inevitable transformation of capitalism into communism A socialist society is envisioned as being characterized by the dictatorship of the proletariat; the existence of a high degree of cooperation and equality; and the absence of discrimination, poverty, exploitation, and war With the non-existence of private ownership, the private profit motive is eliminated from economic life Consequently, market forces do not play a role in organizing the process of production Instead, large-scale government planning is employed to ensure the harmonious operation of the process of production
an economic system in which the people (government) own and operate the principle means of production This means things such as communications, railroads, steel, oil, and so on
Any of various political philosophies that support social and economic equality, collective decision-making and public control of productive capital and natural resources, as advocated by socialists
The attempted abolition of all privilege by restoring power entirely to the coercive agent behind privilege, the State, thereby converting capitalist oligarchy into Statist monopoly Whitewashing a wall by painting it black
Socialism is a set of left-wing political principles whose general aim is to create a system in which everyone has an equal opportunity to benefit from a country's wealth. Under socialism, the country's main industries are usually owned by the state. an economic and political system in which large industries are owned by the government, and taxes are used to take some wealth away from richer citizens and give it to poorer citizens capitalism, communism communism. System of social organization in which private property and the distribution of income are subject to social control; also, the political movements aimed at putting that system into practice. Because "social control" may be interpreted in widely diverging ways, socialism ranges from statist to libertarian, from Marxist to liberal. The term was first used to describe the doctrines of Charles Fourier, Henri de Saint-Simon, and Robert Owen, who emphasized noncoercive communities of people working noncompetitively for the spiritual and physical well-being of all (see utopian socialism). Karl Marx and Friedrich Engels, seeing socialism as a transition state between capitalism and communism, appropriated what they found useful in socialist movements to develop their "scientific socialism." In the 20th century, the Soviet Union was the principal model of strictly centralized socialism, while Sweden and Denmark were well-known for their noncommunist socialism. See also collectivism, communitarianism, social democracy. Christian socialism Guild Socialism National Socialism utopian socialism
(3 syl ) The political and social scheme of Robert Owen, of Montgomeryshire, who in 1816 published a work to show that society was in a wretched condition, and all its institutions and religious systems were based on wrong principles The prevailing system is competition, but Owen maintained that the proper principle is co-operation; he therefore advocated a community of property and the abolition of degrees of rank (1771-1858 ) The Socialists are called also Owenites (3 syl ) In France the Fourierists and St Simonians are similar sorts of communists, who receive their designations from Fourier and St Simon (q v )
{i} political theory advocating the collective ownership and administration of the production and distribution of goods; political system based on the theory of socialism
government ownership of the means of production; leads to economic stagnation due to a lack of competition, innovation and productivity (examples: postal service, transportation, civil courts, education)