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  2. Social ownership of the means of production is the defining characteristic of a socialist economy, and can take the form of community ownership, state ownership, common ownership, employee ownership, cooperative ownership, and citizen ownership of equity.
    en.wikipedia.org/wiki/Social_ownership
    Social ownership is the appropriation of the surplus product, produced by the means of production, or the wealth that comes from it, to society as a whole. It is the defining characteristic of a socialist economic system.
    dbpedia.org/page/Social_ownership
     
  3. People also ask
    Is ownership social?Ownership means that the object owned is disposed of by the owner in his own interests (broadly conceived). For ownership to be social, therefore, it must satisfy two criteria: the disposition of the object owned must be in the interest of society and the owned object must be disposed of by society. ^ Busky, Donald F. (2000).
    What is socialist ownership?According to The Great Soviet Encyclopedia, "socialist ownership" is a form of social ownership that forms the basis for the socialist system, involving the collective appropriation of material wealth by working people.
    Why is social ownership important?Social ownership arises out of the course of capitalist development, creating the objective conditions for further socialist transformation and for the emergence of a planned economy with the aim of raising the living standards for everyone in society.
    How does private ownership define socialism?Just as private ownership defines capitalism, social ownership defines socialism. The essential characteristic of socialism in theory is that it destroys social hierarchies, and therefore leads to a politically and economically egalitarian society. Two closely related consequences follow.
    What are the two types of social ownership?The two major forms of social ownership are society-wide public ownership and cooperative ownership. The distinction between these two forms lies in the distribution of the surplus product.
    Does state ownership imply social ownership?State ownership by itself does not imply social ownership where income rights belong to society as a whole. As such, state ownership is only one possible expression of public ownership, which itself is one variation of the broader concept of social ownership.
     
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