- Noun: Socialism
- any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
- a : a system of society or group living in which there is no private property
- a system or condition of society in which the means of production are owned and controlled by the state
- a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done
- Synonyms:
- Marxism
- communism
- leftism
- social democracy
- Leninism
- progressivism
- syndicalism
- labourism
- Trotskyism
- Fabianism
- Usage:
- “On hisTalking Points Memo, Bill O’Reilly said that the conflict over ObamaCare was really a primal struggle between capitalism and socialism.”
- Encountered:
- Over and over that Obama is a socialist and ObamaCare is Socialism
To see more Words of the Day, visit this link: Words of the Day