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 30, 2003
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
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 May 13, 2012
Term invented by the affluent to convince the average that the remote possibility of great wealth is worth sacrificing health care, education, and a decent life for seniors. In other words as long as you too can be a Bilderberg, even if the chance is as remote as yogic flying, then the 98% of the population who cannot afford extensive health care, post-secondary education, or retirement savings can all suffer.
"You're being the poster child for socialism donating money to the Cancer Society, even though the pursuit of profit has allowed the use of Atrazine, DDT, BPA, PCB's and other carcinogens to be so affluent some have appeared in rain water.
Just because capital pursuit has indiscriminately stolen from every single living organism it's right to live free from toxic byproducts in the manufacture of our fuel, food, and plastics - it does not make you and I as direct consumers responsible.
Just because capital pursuit has indiscriminately stolen from every single living organism it's right to live free from toxic byproducts in the manufacture of our fuel, food, and plastics - it does not make you and I as direct consumers responsible.
by Hydroguy March 5, 2010
Stepping stone from Capitalism to Communism. It will not work with humans and society at the current level of evolution. I do believe, however, in the far future, it will be possible. The reason socialism and communism have not worked so far is because they did not first have capitalism. You see, Capitalism provides the infrastructure needed for Socialism and Communism to work and in places like the USSR and China, they went straight from agrarian societies to Communism (skipping capitalism and socialism) so it did not work. There were other reasons as well like dictators and corruption. Communism is the perfect system but alas, human beings are NOT perfect so they are not compatible.
by BurgLyke October 12, 2003
For all you stupid dumb fucks out there who wrote definitions for communism, socialism is a cross between communism and capitalism. It actually works, most people dont realize that Germany is technically socilist and it is one of the top five richest countries in the world.
by laconic August 6, 2003
A political and economic system that has been completely and utterly discredited (most notably by the emininent Austrian economist Ludwig von Mises.)
Sadly, many people, being generally ignorant of the laws of economics, are unable to come to terms with the fact that socialism, unlike free-market capitalism, is economically incapable of generating wealth and thus can only ever impoverish any existing society when implemented.
Many people are also of the opinion that socialism, while a good idea on paper, can never work in reality purely because of human selfishness, and not because of the afore-stated economic reason. These people are quite possibly the biggest culprits when it comes to holding back human social development, as they persist in blinding countless people to socialism's true shortcomings. (American colleges, for example, are hotbeds of left-wing propaganda.)
Ardent supporters of socialism are usually bitter, twisted individuals who hate life and everything it stands for. They often have an insatiable God-complex and, remaining deliberately blind to the existence of genuine altruism and compassion, wish to destroy humanity as it exists and remodel it in their own image.
Sadly, many people, being generally ignorant of the laws of economics, are unable to come to terms with the fact that socialism, unlike free-market capitalism, is economically incapable of generating wealth and thus can only ever impoverish any existing society when implemented.
Many people are also of the opinion that socialism, while a good idea on paper, can never work in reality purely because of human selfishness, and not because of the afore-stated economic reason. These people are quite possibly the biggest culprits when it comes to holding back human social development, as they persist in blinding countless people to socialism's true shortcomings. (American colleges, for example, are hotbeds of left-wing propaganda.)
Ardent supporters of socialism are usually bitter, twisted individuals who hate life and everything it stands for. They often have an insatiable God-complex and, remaining deliberately blind to the existence of genuine altruism and compassion, wish to destroy humanity as it exists and remodel it in their own image.
by UltraBeans February 7, 2007