Definition

1. Noun:
   • An economic system based on state or public ownership of capital and the means of production: Socialism is an economic theory and system where the community or state, rather than private individuals, owns and controls major industries, resources, and the means of producing goods and services.
   • A political theory or movement advocating for such a system: Socialism is also a political ideology that seeks to replace private property and a profit-based economy with public ownership and cooperative management to achieve greater social equality.

Examples of Usage

• Noun:
  • The party's platform is rooted in democratic socialism. (The party's fundamental principles are based on the political theory of socialism implemented through democratic processes.)
  • Many early 20th-century movements advocated for socialism as an alternative to capitalism. (Many movements from that period supported the economic system of socialism instead of capitalism.)

Advanced Usage

• "Utopian socialism": Refers to early forms of socialist thought that envisioned ideal, perfect societies based on cooperation, often without a detailed plan for practical achievement.
  • The writings of Robert Owen are considered a key part of Utopian socialism.
• "Scientific socialism": A term, often associated with Marxist theory, that presents socialism as the inevitable result of historical and economic laws, rather than merely an ideal.
  • Marx and Engels contrasted their ideas of scientific socialism with earlier Utopian theories.

Variants and Related Words

• Socialist (noun/adjective): A person who supports or advocates for socialism. Also used as an adjective to describe things relating to socialism.
  • She is a committed socialist. (Noun)
  • The country adopted socialist policies. (Adjective)
• Socialize (verb): To organize according to the principles of socialism; to bring under public ownership or control. (Note: This verb has a separate, more common meaning related to interpersonal interaction).
  • The government moved to socialize the healthcare industry.

Synonyms

• Collectivism: A political or economic theory advocating collective control, especially over production and distribution.
• Public ownership: A system where assets or industries are owned and operated by the government or the public.

Related Phrases

• To advocate for socialism: To publicly support or recommend the adoption of socialist principles.
  • The philosopher spent his life advocating for socialism.
• The transition to socialism: The process of changing from a capitalist or other economic system to a socialist one.
  • Their political program focuses on the democratic transition to socialism.

Related Idioms

• "From each according to his ability, to each according to his needs": A slogan popularized by Karl Marx, summarizing a principle often associated with a communist or advanced socialist society regarding labor and distribution.
  • The commune attempted to live by the principle, "from each according to his ability, to each according to his needs."

Noun

1. an economic system based on state ownership of capital
2. a political theory advocating state ownership of industry