socialism

Definitions

A political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

A transitional social state between the overthrow of capitalism and the realization of communism.

Examples

Many political theorists have debated the long-term economic impacts of socialism on modern society.

The professor provided a comprehensive lecture on the historical origins and evolution of socialism.

Synonyms

collectivism communalism social democracy state ownership public ownership egalitarianism welfare state

Antonyms

capitalism individualism free enterprise laissez-faire privatization libertarianism free market