socialism Definition
- 1a political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods
- 2a system of society or group living in which there is no private property
Using socialism: Examples
Take a moment to familiarize yourself with how "socialism" can be used in various situations through the following examples!
Example
The country's shift towards socialism has been met with mixed reactions.
Example
Socialism aims to create a more equal society by redistributing wealth.
Example
The socialist party won the election by a landslide.
Example
Many people criticize socialism as being anti-business.
socialism Synonyms and Antonyms
Synonyms for socialism
Antonyms for socialism
- capitalism
- individualism
- laissez-faire
Phrases with socialism
a political philosophy that advocates for a democratic political system alongside a socialist economic system, with the goal of achieving greater social equality and justice
Example
Many European countries have adopted democratic socialism as their governing philosophy.
a type of economic system where the means of production are owned and operated by worker cooperatives, but the market mechanism is still used to allocate resources and distribute goods and services
Example
Some proponents of socialism argue that market socialism is a more practical and efficient alternative to traditional socialism.
an early form of socialism that focused on creating ideal communities based on cooperation and equality, rather than on political revolution or class struggle
Example
The utopian socialist movement emerged in the early 19th century as a response to the social and economic changes brought about by the Industrial Revolution.
Origins of socialism
from French 'socialisme', from Latin 'socialis', meaning 'allied'
Summary: socialism in Brief
Socialism [ˈsoʊʃəlɪzəm] is a political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods. It aims to create a more equal society by redistributing wealth. Socialism extends into phrases like 'democratic socialism' and 'market socialism,' and is often contrasted with capitalism.
