Socialism Definition With Reference

Socialism definition is any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.

Socialism definition with reference. An economic system in which the means of production are controlled by the state. He is a dedicated socialist. How to use socialism in a sentence. According to socialism everything that people produce is in some sense a social product and everyone who contributes to the production of a good is entitled to a share in it.

Socialism is a rich tradition of political thought and practice the history of which contains a vast number of views and theories often differing in many of their conceptual empirical and normative commitments. Definition of socialist from the cambridge academic content dictionary cambridge university press. 1 that ownership is acquired through a democratically elected government or through a cooperative or a public corporation in which everyone owns shares. Also known as socialist economy.

Socialism ˈsəʊʃəˌlɪzəm n. Socialism is an economic system where everyone in society equally owns the factors of production. Communism socialism capitalism and democracy socialism vs. Socialism social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.