simple definition of socialism - EAS
Key Takeaways
- Socialism is an economic and political system based on public ownership of the means of production.
- All legal production and distribution decisions are made by the government in a socialist system. ...
- Proponents of socialism believe that it leads to a more equal distribution of goods and services and a more equitable society.
www.investopedia.com/terms/s/socialism.asp- People also ask
- https://www.merriam-webster.com/dictionary/socialism
Definition of socialism. 1 : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods. 2 a : a system of society or group living in which there is no private property. b : a system or condition of society in which the means of production are owned and controlled by the state.
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Socialism - Simple English Wikipedia, the free encyclopedia
https://simple.wikipedia.org/wiki/SocialismSee more on simple.wikipedia.orgThere are many kinds of socialism. In all types, at least in principle, the State or workers own the means of production. The major differences between the different varieties are the role of the free market(market planning), how the means of production are controlled, the role of management of workers, and the governmen…- Estimated Reading Time: 6 mins
- https://www.nationalgeographic.org/encyclopedia/socialism
Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.
- https://www.britannica.com/topic/socialism
Socialism is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
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