What does socialism mean?

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

Noun any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods a system of social and economic equality in which there is no private property a system or condition of society in which the means of production are owned and controlled by the state (Marxism) The intermediate phase of social development between capitalism and full communism in Marxist theory in which the state has control of the means of production. Any of a group of later political philosophies such democratic socialism and social democracy which do not envisage the need for full state ownership of the means of production nor transition to full communism, and which are typically based on principles of community decision making, social equality and the avoidance of economic and social exclusion, with economic policy giving first preference to community goals over individual ones. (U.S. politics, colloquial) any left-wing ideology, government regulations, or policies promoting a welfare state, nationalisation, or land reform. Find more words! 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When Chinese dissenters claim that Chinese socialism is a form of feudalism they know whereof they speak. You are in fact aligning yourself with a group of people who think socialism is a good thing. Under socialism or communism, producers of profit and receivers of profit are the same people. Bird vigorously pushed a heady mix of laborism and state capitalism that came to be known locally as milk and water socialism. It is not surprising therefore that, before 1919, anarchism was more popular than socialism among young radicals. See Also What is another word for socialism? What is the opposite of socialism? Sentences with the word socialism Words that rhyme with socialism What is the plural of socialism? What is the adverb for socialism? What is the adjective for socialism? What is the noun for socialism? Translations for socialism Nearby Definitions socialising socialises socialisers socialiser socialised socialise socialism of the chair socialisms socialist Socialist Socialist Federal Republic of Yugoslavia socialistic 9-letter Words Starting With s so soc soci socia social sociali socialis