Definition of socialism
1 : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2a : a system of society or group living in which there is no private propertyb : a system or condition of society in which the means of production are owned and controlled by the state
socialism vs. social democracy
In the many years since socialism entered English around 1830, it has acquired several different meanings. It refers to a system of social organization in which private property and the distribution of income are subject to social control, but the conception of that control has varied, and the term has been interpreted in widely diverging ways, ranging from statist to libertarian, from Marxist to liberal. In the modern era, “pure” socialism has been seen only rarely and usually briefly in a few Communist regimes. Far more common are systems of social democracy, now often referred to as democratic socialism, in which extensive state regulation, with limited state ownership, has been employed by democratically elected governments (as in Sweden and Denmark) in the belief that it produces a fair distribution of income without impairing economic growth.
Examples of socialism in a Sentence
She is quite right, for example, to stress that Thatcher's crusade against socialism was not merely about economic efficiency and prosperity but that above all, “it was that socialism itself—in all its incarnations, wherever and however it was applied—was morally corrupting.” —Stephen Pollard, New York Times Book Review, 18 Jan. 2009
Lenin's great genius, of course, was for ideology, which was redefined all too often to support the tactical requirements of the moment. But owing to his fanatical conviction of his own righteousness, especially where socialism was concerned, and also to the Promethean force of his will, his pronouncements were enshrined by his followers as universal truths. —Michael Scammell, New Republic, 20 Dec. 1999
Recent Examples of socialism from the Web
And in Venezuela, where most people are not property owners, many people work in the informal sector, and economic inequality has historically been high, populists are apt to gravitate toward socialism rather than, say, right-wing nationalism.
Doris Soliz, a ruling-party congresswoman who represents this part of Ecuador, said it’s ironic that U.S. citizens steeped in capitalist values are attracted to a country that has embraced socialism.
Hannah Arendt, Mary McCarthy, Dwight Macdonald, Philip Rahv, Irving Howe, Norman Podhoretz—all with clashing views on socialism, violence, modernist literature, and the responsibility of the intellectual within a society in flux.
And, after a long time, socialism will necessarily supersede capitalism.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'socialism'. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
communism, socialism, capitalism, and democracy
Communism is one of our top all-time lookups, and user comments suggest that’s because it is often used in opaque ways. In some sources, communism is equated with socialism; in others, it is contrasted with democracy and capitalism. Part of this confusion stems from the fact that the word communism has been applied to varying political systems over time. When it was first used in English prose, communism referred to an economic and political theory that advocated the abolition of private property and the common sharing of all resources among a group of people, and it was often used interchangeably with the word socialism by 19th-century writers. The differences between communism and socialism are still debated, but generally English speakers used communism to refer to the political and economic ideologies that find their origin in Karl Marx’s theory of revolutionary socialism, which advocates a proletariat overthrow of capitalist structures within a society, societal and communal ownership and governance of the means of production, and the eventual establishment of a classless society. The most well-known expression of Marx’s theories is the 20th-century Bolshevism of the U.S.S.R., in which the state, through a single authoritarian party, controls a society’s economy and social activities with the goal of realizing Marx’s theories.
Communism is often contrasted with capitalism and democracy, though these can be false equivalencies depending on the usage. Capitalism refers to an economic theory in which a society’s means of production are held by private individuals or organizations, not the government, and where prices, distribution of goods, and products are determined by a free market. It can be contrasted with the economic theories of communism, though the word communism is used of both political and economic theories. Democracy refers to a system of government in which supreme power is vested in the people and exercised through a system of direct or indirect representation which is decided through periodic free elections. Democracy is contrasted with communism primarily because the 20th-century communism of the U.S.S.R. was characterized by an authoritarian government, whereas the democracy of the 20th-century U.S. was characterized by a representative government.
First Known Use of socialism
SOCIALISM Defined for English Language Learners
Definition of socialism for English Language Learners
: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies
SOCIALISM Defined for Kids
Definition of socialism for Students
: a social system or theory in which the government owns and controls the means of production (as factories) and distribution of goods
Seen and Heard
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