SOCIALISM
- A political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole
- Policy or practice based on this theory
- (in Marxist theory) A transitional social state between the overthrow of capitalism and the realization of communism
- the theory, principle, or scheme of social organization which places the means of production of wealth and the distribution of that wealth in the hands of the community [n -S]
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