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What does collectivism mean?

Looking for the meaning or definition of the word collectivism? Here's what it means.

Noun
  1. An economic system in which the means of production and distribution are owned and controlled by the people collectively
  2. The practice or principle of giving a group priority over each individual in it.
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Examples
But both extremes, rugged individualism and ruthless collectivism, are unbalanced and destructive.
They believed that these residual symbols were embers of a totalitarian collectivism that also lay smoldering in the socialist state.
Likewise, the polar opposite of collectivism, capitalism, could be twisted in a similar method.
It is possible that individualism and collectivism operate very differently at the individual level than at the cultural level.
Where is the new thinking on questions of individualism, collectivism, consumerism, choice and equity?
No longer able to rely on Marxism to excite voters, the left turned to nationalism as a new form of collectivism.

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