Socialism is an economic and political system where workers or more frequently, the government, own the general means of production (i. e. farms, factories, tools, and raw materials). This can be achieved through decentralized and direct worker-ownership or centralized state-ownership of the means of production. This is different from capitalism, where the means of production are …

Democratic socialism is a political philosophy that supports political democracy and some form of a socially owned economy, with a particular emphasis on economic democracy, workplace democracy, and workers' self-management within a market socialist economy, or an alternative form of decentralised planned socialist economy.

African socialism or Afrosocialism is a belief in sharing economic resources in a traditional African way, as distinct from classical socialism. Many African politicians of the 1950s and 1960s professed their support for African socialism, although definitions and interpretations of this term varied considerably.