socialism

- 2 dictionary results

so⋅cial⋅ism

[soh-shuh-liz-uh

–noun

1.	a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.

2.	procedure or practice in accordance with this theory.

3.	(in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.

Origin:
1830–40; social + -ism

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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so·cial·ism (sō'shə-lĭz'əm)

Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
The stage in Marxist-Leninist theory intermediate between capitalism and communism, in which collective ownership of the economy under the dictatorship of the proletariat has not yet been successfully achieved.

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