An economic system based on public ownership of the means of production. The most overt examples of public or common ownership exist in strict communist societies. Small scale communes exist within which people own all physical assets commonly. Some communes even have common ownership of some clothing. Strict communism requires income equality, and is sometimes referred to as economic democracy.

Common ownership of the means of production implies that production is directed by 'society' rather than by entrepreneurs. Socialists tend to promote democratic government as the representative of society in directing production. Large scale production cannot be planned through direct democratic vote, and requires that bureaucrats and officials decide many issues in production.

Critics of socialism claim that socialism fails to match the performance of capitalism for three reasons. First the equalization of incomes eliminates the incentive to innovate and work hard. Second, bureaucrats and high officials do not posses the informational required to direct production in a complex society. Market prices are needed to solve the informational problems of directing production, and socialism will at best have pseudo-prices. The absence of financial markets is a major problem with socialism. Third, socialism tends to degenerate into oppressive dictatorship. The incentive, informational, and political problems of socialism are inescapable.

Many want socialism for ideological reasons. Egalitarian ethics drive the socialist movement. Marxists claim that capitalism is exploitative. Socialism is indefensible in terms of economic efficiency and natural rights ethics. Socialists envision a better world, but their dreams are unrealizable.
1. the USSR (Soviet socialism based on overt central planning)

2. Nazi Germany (national socialism based on comprehensive regulation)

3. Sweden in 1991 (before the backed off from the abyss)

4. England just before Thatcher (before the backed off from the abyss)
by evolutionary subjectivist September 24, 2007
1) Political science concerning itself with the equitable distribution of labor and income.

2) The wave of the future.
"Democratic Socialism will extend democracy from the political system to the economic system"
by Apocalycious March 03, 2003
1. Jesus was the ultimate socialist! Teaching Socialism.
2. He used the loaves and fishes as his example of God providing for the masses.
3. Therefore Socialism is best Honored as Gods domain only.
4. When The State has Domain over Socialism Pukey little paranoid tinhorn psycho dictators deliver Death to the Masses, Not loaves and Fishes
5. Stalin, Hitler, Pol Pot.
6. Seperation of Church and State, This is Gods Mandate not the States.
Stalin! Father Russia! Father of Socialism! Worked, froze and starved 20 million of his fellow countrymen to death in the mines of Northern Siberia.

LUKE 12: 22 - 34

22 Then Jesus said to his disciples: "Therefore I tell you, do not worry about your life, what you will eat; or about your body, what you will wear.
23 Life is more than food, and the body more than clothes.
24 Consider the ravens: They do not sow or reap, they have no storeroom or barn; yet God feeds them. And how much more valuable you are than birds!
25 Who of you by worrying can add a single hour to his Life?
26 Since you cannot do this very little thing, why do you worry about the rest?
27 "Consider how the lilies grow. They do not labor or spin. Yet I tell you, not even Solomon in all his splendor was dressed like one of these.
28 If that is how God clothes the grass of the field, which is here today, and tomorrow is thrown into the fire, how much more will he clothe you, O you of little faith!
29 And do not set your heart on what you will eat or drink; do not worry about it.
30 For the pagan world runs after all such things, and your Father knows that you need them.
31 But seek his kingdom, and these things will be given to you as well.
32 "Do not be afraid, little flock, for your Father has been pleased to give you the kingdom.
33 Sell your possessions and give to the poor. Provide purses for yourselves that will not wear out, a treasure in heaven that will not be exhausted, where no thief comes near and no moth destroys.
34 For where your treasure is, there your heart will be also.
by Peter N January 21, 2006
A political and ecomonic ideology that moves away from the foolish concept of wealth. It has numerous forms, all left wing.
If you oppose socialism, you are for antisocialism, which makes you antisocial. Take that, greedy capitalists.
by Eddy December 23, 2003
A type of Government that rather than redistributing wealth, redistributes poverty through confiscatory, and often unfair taxes, affecting in particular the middle classes who, earn too much to claim benefits but who do not earn enough to pay their taxes and yet enjoy a sufficently rewarding standard of living relative to how hard they work.
By paying five hundred pounds in Tax and a further one hundred and ninety in national insurance Mr Smith was subsidising two households where the occupants were second and third generations of people who had never worked and claimed benefits.
This is due to the cause of socialism, and it's Marxist roots. People who have had an overprivelidged childhood and feel guilty about it or those who feel like the world owes them a living generally vote in this way, for a socialist party.

ii. The Livingstonian bus (expensive and pointless)

iii. A purchase made to benefit the few.

iv. The idea that the state and not individuals are responsible for their actions.
by Andrew Kirk August 27, 2008
A system in which human right is Sacrificed for he "good" of the collective.

in reality it doesnt even help the collective.
socilist: "you produce wealth...we will kill you and Distribute your money amongst the masses...Where'd the wealth go?"

socialism and communism are for the most part the same thing.
by Young calgar November 21, 2006
Direct collective onwership of all productive assets by everyone, resulting in moneyless free-access to whatever people need.
After capitalism has gone, old former capitalist political farts will be heard saying "I remember when people were employed and exploited for profits till they dropped, in order to eat and have a roof over their head. Now they only work about 10 hours a week without bosses, get everything they want without paying, and no tell can them what to do. Terrible! It's terrible! I'm John Major, and I used to be charge, you know"
by so-shee-list September 22, 2002
1. A form of Government that goes forth in the name of the people, but is truly an oligarchy. Meaning the few control the many, and the many are slaves to the state who happen to be the few

2. Believes in collective ownership, democratic control of the material means of production by the workers and the people.

3. No respect for the individual or the private sectors rights. Often associated with entitlement programs, and having everything under government control. Wishes for there to be no existence of private capital or wealth, and thus everything is owned by the state.

4. Teach's the end results justify the means, even at the cost of human life. Of coarse this is never said but is always seen.

5. A sick belief that on the surface appears friendly, but in the end has caused millions of people their lives, and then morphs into a communist or totalitarian state.

6. Mob rule, where the majority always out weighs the rights of the individual, and thus leaves no room for debate. The opposing views are not considered, and the individual is crushed.
History shows socialism to be filled with terrible acts by men like Hitler, Chairmen Mao, Mussolini, and Lenin.

The falling political realms of England

President Obama, and his companions views and desired policies to be implemented.
by goobergeorge February 03, 2010
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