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 ?
Hypothesis 5: A negative relationship between socialist ideology and capitalist values (the classic polarization between communism and capitalism).
Understanding the influence of the socialist ideology is crucial to understanding the difficulties that China faces in reforming many of its state-owned enterprises (SOEs) today.
Despite China's outstanding economic performance, including an average annual GDP growth rate that surpassed 9 percent in the 1990s, (3) the CCP's economic reforms have actually weakened the legitimacy of the prevailing socialist ideology by introducing and expanding various forms of private ownership, encouraging income disparities, and, in some cases, causing serious corruption.
Above all, if the Labour Party was to transform the consciousness of the working-class in toto, it must establish a "hegemonic socialist ideology.
Secondly, socialist ideology is deeply anti-feminist as it simply denies that women are oppressed because of their gender and because they are women in a patriarchal society, thus denying the very ground on which feminism is based.
They lacked jobs and women were unable to get affirmative action policies implemented; "[ldots] the sacrificial view of women embedded in the Algerian brand of socialist ideology was transformed into a structural exclusion of women as a group in need of affirmative action by the state's development practice" (Lazreg 1994: 155).
They continued to push their socialist ideology by forcing thousands of California State University professors and charter school teachers to join, and pay dues, to unions whose political agendas they don't agree with.
Also for Feldman, there is a conflict between our capitalist dreams and our socialist ideology which generates a tension that can be personally and professionally creative.
Since Zimbabwe's adoption of a socialist ideology of development predates its independence, it may be helpful to review briefly the recent history of its struggle for national liberation.
Moreover, their views of the shared cultural identity of black and white America fit the magazine's specifically North American socialist ideology.
Germans living in former Western part find it difficult to harmonise themselves with the people of Socialist ideology.
This is the third occasion when various regional leaders subscribing to socialist ideology have formally joined hands to form a national party.

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