(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.
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Origin of utopian socialism
First recorded in 1920–25
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
(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 othersCompare 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