VIDEO FOR SOCIALISM
WATCH NOW: How To Use The Terms "Socialism" vs. "Communism"
Socialism and Communism are two words that fall under the category of: learned it a while ago, probably should know it, but actually don't because these are confusing are hard. So what do these terms mean?
QUIZ YOURSELF ON “ITS” VS. “IT’S”!
OTHER WORDS FROM socialismpre·so·cial·ism, nounsem·i·so·cial·ism, nounun·so·cial·ism, noun
Words nearby socialism
What does socialism mean?
Socialism is an ideology or system based on the collective, public ownership and control of the resources used to make and distribute goods or provide services. This involves ownership of such things not by private individuals but by the public (the community as a whole), often in the form of a centralized government.
The things needed to make goods or offer services—the raw materials, tools, factories, and labor—are known as the means of production. Under socialism, the means of production are owned collectively, rather than by private enterprises.
The noun socialist refers to someone who supports socialism. It can also be used as an adjective to describe things involving socialism or that operate under socialism, such as countries or economies.
Socialism is both a social and an economic theory, with many varying interpretations as to what it truly entails. In general, socialism values people working together to meet individuals’ needs. It’s based on the belief that everyone who helps create goods or services should have a share in them. To achieve that, socialism calls for the government to own the raw materials used to make goods, such as wood and metals, and everything you need to make things out of them, including machinery and factories. Some versions of the ideology are based on the belief that the government should also set all purchase prices and workers’ wages to ensure that everyone’s wealth stays equal. In this version of socialism, doctors, bakers, clerks, teachers, and accountants would all be paid the same.
Many socialists think that essential services—such as healthcare, education, and even food—should be provided to the citizens by the government. The idea is that since community members worked together to produce those goods and services, everyone should have equal access to them.
Another common misconception is that there is no private property in a socialist society. But many people who consider themselves socialists are concerned only with property that has to do with production. In a society based on socialism, you could theoretically still have iPhones, jeans, and cars. The difference would be that the government would own everything required to make them. Abolishing private property is actually a part of communism, an ideology that is often confused with socialism. In Marxist theory, socialism is sometimes considered a middle stage in the transition from capitalism to communism.
Why is socialism important?
The first records of the word socialism come from the 1800s. It is made from the word social, meaning “relating to life, welfare, and relations of humans in a community,” and the suffix -ism, which indicates a theory, doctrine, or ideology.
As a political ideology, socialism is often traced back to the Industrial Revolution. Technology innovations during this time allowed business owners to become very rich while people who worked in their factories worked long hours in dangerous conditions for little pay. Socialism emerged as an alternative to this system of capitalism.
In capitalist systems, most things are privately owned, prices and wages are determined by a free market economy, and goods and services are available only to those who can afford them. Capitalism often leads to a wealthy upper class and a poorer lower class. In contrast, an ideal socialist system aims for no economic classes.
Today, there is no completely socialist country or government. Even countries like Sweden that are often labeled as socialist have capitalist economies based on free markets and competition. China is a communist, one-party state that still has many privately owned corporations and businesses. Even strongly capitalistic countries such as the United States still have some very popular socialist programs, such as Social Security.
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What are real-life examples of socialism?
Like other economic and social systems and ideologies, socialism is complicated and is often a source of debate.
Socialism means you don't have to let rich people decide if you live or you die.
— Craig Abalos (@CraigAbalos) August 17, 2020
Socialism vs capitalism is not even the right question. What really matters is avoiding monopolies that restrict people’s freedom.
— Elon Musk (@elonmusk) June 15, 2018
What other words are related to socialism?
In socialism, the means of production are controlled by which of the following?
A. private owners
B. the church
C. a council of elders
D. the community as a whole
Example sentences from the Web for socialism
That Republicans are running ads attacking expanded government health care as socialism while offering nothing serious of their own amid a pandemic says it all.A disgusting GOP attack ad shows what’s really at stake in Georgia|Greg Sargent|December 18, 2020|Washington Post
Moderates blame liberals for promoting socialism and proposals to “defund the police.”Democrats, nearing a moment of triumph, still feel anxious and divided|Sean Sullivan|November 10, 2020|Washington Post
In one of three ads unveiled Thursday, participants in a roundtable discussion tout Trump’s stewardship of the economy, with one woman describing him as “the only barrier between us and socialism.”Election live updates: Trump returns to Wisconsin; Biden to face live audience at town hall|Colby Itkowitz, Felicia Sonmez, John Wagner|September 17, 2020|Washington Post
This may sound like nomenclatural hair-splitting to you — the difference between a “social democracy” and “democratic socialism” — but Sachs argues otherwise.Does Anyone Really Know What Socialism Is? (Ep. 408 Rebroadcast)|Stephen J. Dubner|September 17, 2020|Freakonomics
She believed in the hopeful socialism of the early 20th century, when people who thought that equality was within their grasp if only they could undermine the capitalist system.Suffragette City: San Diego’s Crucial Role in Getting Women the Vote|Randy Dotinga|August 6, 2020|Voice of San Diego
He expected European capitalism to evolve spontaneously into a market socialism of worker-owned cooperatives.
So a United States senator has no idea what "national socialism" means.
But at any rate, we have to change course because our country is headed for national socialism.
These, he insisted, were harbingers of the twin plagues of socialism and secular humanism.
“Welfarism,” as Goldwater constantly called welfare, was the path to socialism.
Now many people think that we are moving in the direction of world socialism to-day.The Salvaging Of Civilisation|H. G. (Herbert George) Wells
Many people when presented with the argument above, would settle it at once with the word "socialism."
Thus seen, socialism appeared as the very antithesis of law and order, of love and chastity, and of religion itself.
It remained for the age of machinery and power to bring forth another and a vastly more potent socialism.
Socialism, like every other impassioned human effort, will flourish best under martyrdom.
British Dictionary definitions for socialism
Cultural definitions for socialism
An economic system in which the production and distribution of goods are controlled substantially by the government rather than by private enterprise, and in which cooperation rather than competition guides economic activity. There are many varieties of socialism. Some socialists tolerate capitalism, as long as the government maintains the dominant influence over the economy; others insist on an abolition of private enterprise. All communists are socialists, but not all socialists are communists.