Introduction Socialism is a way to organize a society. It deals mostly with the economy, or the part of a society that creates wealth. The goal of socialism is to spread wealth more evenly and to treat all …

socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in …

Socialism is a form of government in which most forms of property, including at least the major means of production and natural resources, are owned or controlled by the state.

Socialism is a political and economic system in which most forms of economically valuable property and resources are owned or controlled by the public or the state.

Democratic socialism, political ideology that supports the establishment of a democratically run and decentralized form of socialist economy. Modern democratic socialists vary widely in their views of …

socialism, System of social organization in which private property and the distribution of income are subject to social control; also, the political movements aimed at putting that system into practice.

market socialism, economic system representing a compromise between socialist planning and free enterprise, in which enterprises are publicly owned but production and consumption are guided by …

utopian socialism, Political and social idea of the mid-19th century. Adapted from such reformers as Robert Owen and Charles Fourier, utopian socialism drew from early communist and socialist ideas.

Following the financial crisis of 2007–09 and the Great Recession that accompanied it, there was renewed interest in socialism among many people in the United States, especially millennials …

Meanwhile, China adopted many elements of a free-market economy in what it called a development rather than a repudiation of Marxist theory. In the West, Marxism continues to be appreciated as a …