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Definition of socialism noun from the Oxford Advanced Learner's Dictionary

 

socialism

 noun
noun
BrE BrE//ˈsəʊʃəlɪzəm//
 
; NAmE NAmE//ˈsoʊʃəlɪzəm//
 
[uncountable] Political views and systems
 
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a set of political and economic theories based on the belief that everyone has an equal right to a share of a country’s wealth and that the government should own and control the main industries compare capitalism, communism, social democracy See related entries: Political views and systems Wordfindercapitalism, communism, democracy, dictatorship, fascism, imperialism, liberal, radical, socialism, system Word Origin early 19th cent.: from French socialisme, from social from Old French, or from Latin socialis ‘allied’, from socius ‘friend’.Extra examples Marx claimed that his was the first scientific socialism. They are trying to build socialism in their own country. They believed that these problems would disappear under socialism.
See the Oxford Advanced American Dictionary entry: socialism

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