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 full access to free education in the post 1952 era was "used as a means to reinforce national identity, the pan-Arab Nasserite socialist ideology and consolidate the republican military order.
They cover the diversity and dynamism of legal change in China and Vietnam, enduring socialist ideology and practice, socialist transitions at the central and local levels, and reconciling internationalism and Catholicism.
After 1933 the same ideological solidarity rendered the profession relatively impervious to National Socialist ideology.
But we know what kind of forces are incessantly trying to harass Lalu Prasad -- a socialist ideology and the political power that refuses to bow before you.
A school of thought advocates that in a one -party state welded to genuine scientific socialism lies the nation's ultimate salvation; that the only ideology that can bring about our present desire of a new Nigeria of justice and social order is a new system of laws, new ethical standards based on socialist ideology.
We must unite more closely around the CPC Central Committee with Comrade Xi Jinping as the core, conscientiously study and implement the spirit of the 19th NPC, carry through Xi Jinping's socialist ideology with Chinese characteristics in the whole process of reform and development of CPC, and all aspects of party building , Never forget the beginning of the heart, keep in mind the mission, strengthen learning, improve their skills, strengthen their role, hard work hard, take a new mission in a new era and go all out to promote sustainable and healthy development of the company to a new level.
Nasralla describes himself as a centrist, who nonetheless "takes the best of the socialist ideology, and not the extremes.
Ilyas Khan, Malik Tariq Saeed, Imran Ansari, Nadeem Pasha, Khawaja Munawar Saddique, Malik Khalid Araein, Babar Hafeez, Yunis Chohan and Chaudhry Hussain said the best way to promote thought of Nusrat Bhutto was to promote once again socialist ideology and initiate struggle to restore rights of working class.
Since its founders had placed them at the heart of socialist ideology, the failure of the revolution to materialise as promised, followed by the decline in both the pace of industrialisation and the size of the working class after the Second World War struck socialism to its core and undermined the very bases of the idea (41).
The socialist ideology - in those days very popular in theThird World countries - was adopted by the PPP as its economic agenda after fusing with what it called the Islamic concept of equality.
Today, China is driven less by an internationalist socialist ideology than by an aggressive Chinese nationalism that draws its strength from its economic clout as well as by its military capability.
Luke added: "I think many young people have more liberal, socialist ideology nowadays, so I think Labour would be the predominant party across Wales.

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