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Socialist

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
Socialist
A scholar or partisan who believes in 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 manage the nationalized companies, or they may delegate this to a private company. Most socialist systems, however, allow some degree of private enterprise. Because socialists favor a strong role for the state, socialism should not be confused with Marxism, which holds that the state will eventually disappear.


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