A political ideology which has been applied at many different levels and with many different results. It has evolved over time and has influenced many other ideologies (such as National Socialism, Communism and moderate Liberal Capitalism, Anarchists also ocassionaly refer to themselves as liberal socialists).
Modern socialist ideas are normally based on re-distribution of wealth by means of a progressive taxation system. For example providing a minimum wage for workers and health benfits in times of sickness.
Although socialism has traditionally been associated with public ownership, many Socialist governments (such as the British Labour Party under Tony Blair) now favour a system of "democratic capitalism" where the government and the market co-operate to provide basic services and living standards to the citizens of a country. See also The Third Way.
Socialism is also associated with unionisation, stemming from a belief that workers should not be exploited by artificialy created market conditions. However the intensity of this belief does seem to vary widley across different groups of socialists.
Modern socialist ideas are normally based on re-distribution of wealth by means of a progressive taxation system. For example providing a minimum wage for workers and health benfits in times of sickness.
Although socialism has traditionally been associated with public ownership, many Socialist governments (such as the British Labour Party under Tony Blair) now favour a system of "democratic capitalism" where the government and the market co-operate to provide basic services and living standards to the citizens of a country. See also The Third Way.
Socialism is also associated with unionisation, stemming from a belief that workers should not be exploited by artificialy created market conditions. However the intensity of this belief does seem to vary widley across different groups of socialists.
Arthur Scargill's style of socialism is only one of many interpretations, and differs from Tony Blair's style of socialism.
by Flame August 29, 2003
Get the socialism mug.A rag worn by the all-knowing members of ISO (International Socialist Organization) usually red checker-type pattern, sometimes black. It's actually called a keffiyeh but who the fuck cares what it's called? You look like a badass rebel!!!
Ken: Yo Pete, what is that thing strangling you?
Pete: Oh that? It's my new socialist scarf!
Ken" Gee Pete! I didn't realize you were cool enough to be apart of such a beautiful and meaningful display of personal beliefs!
Passerbyer:WTF mates?
Pete: Oh that? It's my new socialist scarf!
Ken" Gee Pete! I didn't realize you were cool enough to be apart of such a beautiful and meaningful display of personal beliefs!
Passerbyer:WTF mates?
by orvilleredenbacher April 11, 2009
Get the socialist scarf mug.Dumbass who believes that poor people need the government to help them by taxing the hell out of the population, making everyone poor in the process.
by Mman2000 December 15, 2003
Get the Socialist mug.by Jafje May 25, 2007
Get the Socialist mug.A system that is causing mass unemployment in European "utopias," where the perfect free healthcare system is inefficient and lacking in innovation.
by Anonymous October 16, 2003
Get the socialism mug.Kid 1: Holy Sh*t! Have you seen the ud definitions of wealthy suburbs!?!
Kid 2: Oh that, they were probs just witten by jealous socialists. Don't even bother trying to listen to them.
Kid 1: Oh, ok.
Kid 2: Oh that, they were probs just witten by jealous socialists. Don't even bother trying to listen to them.
Kid 1: Oh, ok.
by Rich Guy in the 1% October 18, 2017
Get the Socialist mug.1) An economic system where the means of production (large machinery, equipment and land) are organized to directly produce goods and services for use as opposed to being owned and operated for private profit. It entails some form of public, cooperative or collective ownership in the either autonomous cooperatives or a network of public entities or a centralized state.
There are many models of socialism that vary in three ways: the coordinating mechanism for making economic decisions (economic planning or market socialism); the type of ownership; and how firms are managed (self-management, democratic management, etc).
The fundamental difference between socialism and capitalism is the elimination of private property in socialized production under socialism (i.e; in highly collective and mechanized industries) so no idle class can live off profits, rent and interest. Instead of going to a class of capitalists, the profit might go to all the workers in a firm (in cooperative types of socialism) or to the public at large (in public/state ownership types of socialism) - potentially eliminating the need for taxation as a source of public revenue.
2) Political movements that advocate a socialist economic system; but sometimes it is used to refer to the policies of self-described Communist or Social democratic parties regardless of whether or not these policies have anything to do with socialism as a different economic system than capitalism.
There are many models of socialism that vary in three ways: the coordinating mechanism for making economic decisions (economic planning or market socialism); the type of ownership; and how firms are managed (self-management, democratic management, etc).
The fundamental difference between socialism and capitalism is the elimination of private property in socialized production under socialism (i.e; in highly collective and mechanized industries) so no idle class can live off profits, rent and interest. Instead of going to a class of capitalists, the profit might go to all the workers in a firm (in cooperative types of socialism) or to the public at large (in public/state ownership types of socialism) - potentially eliminating the need for taxation as a source of public revenue.
2) Political movements that advocate a socialist economic system; but sometimes it is used to refer to the policies of self-described Communist or Social democratic parties regardless of whether or not these policies have anything to do with socialism as a different economic system than capitalism.
"I am a socialist; I think capitalism is unjust and becoming inefficient for providing for society as a whole."
"Soo... you think we should tax the rich to pay for social programs and regulate businesses to make them work for 'society'?"
"That is not socialism... socialism means changing the ownership of enterprises. In fact, socialism would mean we don't need to rely so much on taxes because the profits made by enterprises could be used to replace the role of taxes in financing public services. And regulation is just an attempt to correct market failures in capitalism, socialism would not require inefficient regulation because we would directly own and run enterprises."
"Soo... you think we should tax the rich to pay for social programs and regulate businesses to make them work for 'society'?"
"That is not socialism... socialism means changing the ownership of enterprises. In fact, socialism would mean we don't need to rely so much on taxes because the profits made by enterprises could be used to replace the role of taxes in financing public services. And regulation is just an attempt to correct market failures in capitalism, socialism would not require inefficient regulation because we would directly own and run enterprises."
by Fighting Falcon October 22, 2012
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