socialism

(redirected from socialistic)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.
Related to socialistic: socialist economy

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 ?
In the GDR's urban planning the Central House as a high-rise of maximum centrality was the most important form of dominance and was destined to broadcast the socialistic success architectonically.
Meanwhile, there are 38 socialistic parties in 35 countries of today's Europe.
Sarath Kongahage, Ambassador of Sri Lanka for Germany, on behalf of the Government of the Democratic Socialistic Republic of Sri Lanka and Mr.
In China, the ruling Communist Party has banned Chinese broadcasters from airing foreign programs during primetime in an effort to keep international shows from gaining greater influence and "threatening the socialistic values" the Party champions.
Contrary to flapjack Socialistic theory, money doesn''t grow on trees.
With the disintegration of USSR, the world was made to believe that communistic economic model and its variation, socialistic economic model were both doomed businesses.
MPs from the Bulgarian leftist oppositional Bulgarian Socialistic Party (BSP) and the ethnic Turkish Movement for Rights and Freedoms (DPS) have demanded that the Constitutional Court should abolish the rule, which states that with a six-month period after a positive vote of confidence for a government, a no confidence vote cannot be initiated on the same policies.
For some reason, many business spokesmen seem to believe that the existing system of interventions represents free enterprise, whereas any new regulations would be socialistic.
The socialistic benefit of training the population of Bahrain is a great idea.
The Advisor said Bhutto formed PPP at a convention in Lahore in 1967 and became its founding chairman with party goals to establish an egalitarian democracy and apply socialistic ideas to realize economic and social justice among people with slogans of Roti Kapra Aur Makan.
ABOUT 160 years ago, a group of people that included clergy and union members sickened by the living and working conditions of the under class were drawn to the Socialistic movement of that time.
EU funds--and they always talk of "funds" as if it sprang magically from an EU tree in Brussels--is simply a socialistic transfer of money from wealthier taxpayers in a privileged corner of Europe to a poorer one.