socialism

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Socialism

An economic system in which the state or the people generally own most or all of the means of production. That is, under socialism, industries, agriculture and corporations are nationalized. The government may also manage the nationalized companies, or they may delegate this to a private company. Most socialist systems, however, allow some degree of private enterprise. Because it favors a strong role for the state, socialism should not be confused with Marxism, which holds that the state will eventually disappear.

socialism

a political doctrine that emphasizes the collective ownership of the means of production, ascribing a large role to the state in the running of the economy, with widespread public ownership (NATIONALIZATION) of key industries, although it allows limited scope to market forces. MARX regarded socialism as a transitional stage between the end of a PRIVATE-ENTERPRISE system and the beginnings of COMMUNISM. In practice, the revolutionary, communist form of socialism, which involves abolition of all private property, is limited to only a few countries, such as Cuba. Elsewhere, the main form of economic system is that of the MIXED ECONOMY, which combines elements of democratic socialism and the private-enterprise tradition. See CENTRALLY PLANNED ECONOMY.
References in periodicals archive ?
The Supplier of the Year award winners' partnership, dedication and commitment to consistently perform above expectation played an important role in GM's success in 2011," said Bob Socia, Vice President, Global Purchasing and Supply Chain.
GM has maintained a long-term commitment to China that few other global companies can match, GM China President Bob Socia said in a statement.
Bob Socia, president, GM China, and chief country operations officer, China, India and ASEAN, said, 'This is a great start to the year and a big accomplishment for our team.
They are tured in the n but in a completely "They appear to be living in a flat with but things soon spir Jason kept his illus home by setting som scenes on places in C Warwickshire, such Social Club, the Wh Bulkington, and All where he used to liv He said: "The socia characters have an o e a normal couple a three-legged cat al out of hand.
But I got a phone call from a socia l worker asking if there was any chance of me starting to speak to Gavin again as he was upset and felt I was ignoring him.
Wilkins) Socia of Oxford; three children, Dennis J.
Kielan Sevy, Kathleen Sheehan, Chantel Shelton, Laura Shim, Royce Sigloh, Anais Simmons, Sarah Simonton, Xenia Slabina, Anne Smeed, Samantha Smith, Zachery Smith, Amy Smolek, Teyan So, Forest Sobol, Miranda Socia, Ericka Sohlberg, Katherine Sondag, Timothy Soto, Ariel Stavitsky, Colin Stevens, Meghan Stewart, Eliot Stone, Patrick Sturdevant, Laura Taggart-Murphy, Kai Tamulonis, Sam Tavakoli, Nathaniel Taylor, Arame Tchack-Ryan, Noah Temple, Annemarie Terzenbach, Sasha Thrailkill, Emily Tillinghast-Skupsky, Joshua Tobar, Colin Tracey, Miriam Trujillo, Winifred Tyson, Yesenia Ulloa, Matthew Unger, James Utterback, Dmitry Vaintrob, Joan Van Hoy, Sean Veeck, Kelsi Veralrud, Bianca Viggiano, Charles Vinis, Matthew vonHippel,
The values instilled by my family - a sense of community, belief in socia justice, and in hard work and the importance of integrity - have governed my life.
Impulsada par el poder economico de su principal socia comercial, Estados Unidos, y por la competencia foranea, Mexico debe ponerse al dia.
On long summer evenings people played cards and chess - a game initially derived from the Persian shahmat (the King is dead) and they certainly required and accepted the moral guidance which many looked for in church festivals and services, finding socia l and spiritual consolation in the daily and weekly calendars of holy offices.
The study is a truly innovative piece of socia history scholarship.