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utopian socialism

(sometimes initial capital letter) an economic system based on the premise that if capital voluntarily surrendered its ownership of the means of production to the state or the workers, unemployment and poverty would be abolished.
Compare socialism.
Origin of utopian socialism
First recorded in 1920-25 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2017.
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British Dictionary definitions for utopian socialism

utopian socialism

(sometimes capitals) socialism established by the peaceful surrender of the means of production by capitalists moved by moral persuasion, example, etc: the form of socialism advocated by Robert Owen, Fichte, and others Compare scientific socialism
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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