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Used Atomic Nomad
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Definition of SOCIALISM
1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2a : a system of society or group living in which there is no private property b : a system or condition of society in which the means of production are owned and controlled by the state
3: 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
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Examples of SOCIALISM
She is quite right, for example, to stress that Thatcher's crusade against socialism was not merely about economic efficiency and prosperity but that above all,