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 ?
Since then, signs have mounted that the Socialists are now prepared to abstain in a confidence vote to allow Rajoy to form a new government, even if they still refuse to enter a coalition with his party and may block his policies in future.
And rightly so, because Mohan, known and respected for his simplicity, integrity and intellectual brilliance, is perhaps the last of the socialist giants in the mould of Acharya Narendra Dev, Ram Manohar Lohia, Jai Prakash Narain, Madhu Dandavate and Madhu Limaye.
But whether in opposition or in power, the Socialists have no distinct agenda.
From this, one could conclude that the socialists, or at least Stolze, were not really socialists.
Partly as a result of the economic reforms the Czech Republic underwent in the 1990s, the Socialists have presided over solid economic growth.
One was an intensification of the struggle against the Catholic Church, another was support for an alliance with the socialists and opposition to an alliance with the leftist liberals and a third was the intensified character of the language and expressions which the radical liberals used.
Benefiting from a robust economy and a mood of confidence among the Portuguese, the Socialist Party won 44 percent of the vote, with more than 95 percent of ballots counted.
As leader of American Zionism right after World War I, Brandeis protested the heavy subsidization of the socialist endeavors in Palestine.
In October, before the prospect of a Nader candidacy surfaced, the Socialists decided to launch their most aggressive national campaign since the days of Norman Thomas--a New York pastor whose "social gospel" provided a framework for the development of America's governmental "safety net.
Neither option is attractive because linking up with anti-austerity Podemos ('We Can') could divide the Socialists while they could be accused of destabilising Spain if they are blamed for forcing new elections.
The Socialists will be able to propose a cabinet to parliament only given failure of a prior proposal by former ruling GERB party, which came out again first at the May 12.
In the last legislative period, this delegation was split between the Liberals and the Socialists.