Socialism for Dummies (defined and explained)

so·cial·ism ˈsōSHəˌlizəm noun socialism a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. policy or practice based on the political and economic theory of socialism. synonyms: leftism, Fabianism, syndicalism, consumer …

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