Definitions

1. noun

A political and economic theory in which the means of production and distribution of goods are owned and controlled by the community as a whole, either through direct participation or through the state.

“The country has been moving towards socialism, with the government controlling key industries.”

2. noun

A social system in which the means of production and distribution of goods are owned and controlled by the community or the state, and resources are distributed based on need rather than market principles.

“The socialist movement has been advocating for a more equal distribution of wealth.”

3. noun

A political ideology that advocates for the common ownership of the means of production and distribution of goods, and often includes elements of democracy, equality, and social welfare.

“The politician’s speech highlighted the benefits of socialism and its potential to reduce income inequality.”

4. adjective

Relating to or based on the principles of socialism, particularly in the context of economics or politics.

“The socialist government implemented policies to promote social welfare and reduce poverty.”