Definition & Meaning of "socialism"in English

Socialism

an economic system in which the state owns and manages major resources, industries, or capital

Grammatical Information

Animacy status

Abstract

Composition

Compound

Uncountable

singular

not gender specific

Examples

Socialism ensures that public assets benefit the population.

a political theory promoting state ownership or control of industry to achieve social and economic equality

Examples

Socialism advocates state intervention to reduce class disparities.

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socialism

social

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