socialism

Definition

Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.

Etymology

Attested since 1832; either from French socialisme or from social + -ism.

Example Sentences

• "Soil improvement often involves the movement of large quantities of earth, but the Chinese peasants face this task with a high degree of enthusiasm for socialism."
• "…Americans as a rule have no faith in the fundamental doctrine of socialism — no private property. To be sure, that fundamental doctrine is not expressly maintained in this program of the British Labor Party ; but all its proposals lead straight to the adoption by the nation of that doctrine…"
• "Socialism is usually defined as "common ownership of the means of production". Crudely: the State, representing the whole nation, owns everything, and everyone is a State employee. This does not mean that people are stripped of private possessions such as clothes and furniture, but it does mean that all productive goods, such as land, mines, ships and machinery, are the property of the State... One must also add the following: approximate equality of incomes (it need be no more than approximate), political democracy, and abolition of all hereditary privilege, especially in education. These are simply the necessary safeguards against the reappearance of a class-system."

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