socialism

Definitions

General English

Economics

  • noun the idea that in a state the means of production, distribution and exchange should be controlled by the people, that the people should be cared for by the state and that wealth should be shared equally

Media Studies

  • noun a political theory or system in which the means of production and distribution are controlled by the people and operated according to equity and fairness rather than market principles
  • noun in Marxist theory, the stage after the proletarian revolution when a society is changing from capitalism to communism, marked by pay distributed according to work done rather than according to need

Politics

  • noun the belief that in a state the means of production, distribution and exchange should be controlled by the people, that the people should be cared for by the state and that wealth should be shared equally
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