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- Common ownership socialism is a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. It is based on the idea that common or public ownership of resources and means of production leads to a more equal society1. In a socialist system, all legal production and distribution decisions are made by the government, aiming for a more equitable distribution of goods and services2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.www.nationalgeographic.org/encyclopedia/socialism/
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- Socialism is an economic and political system based on collective ownership of the means of production.
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Forms of common ownership exist in every economic system. Common ownership of the means of production is a central goal of socialist political movements as it is seen as a necessary democratic mechanism for the creation and continued function of a communist society. See more
Common ownership refers to holding the assets of an organization, enterprise or community indivisibly rather than in the names of the individual members or groups of members … See more
Common ownership is practiced by large numbers of voluntary associations and non-profit organizations as well as implicitly by all public bodies. While cooperatives … See more
Neoclassical economic theory analyzes common ownership using contract theory. According to the incomplete contracting approach pioneered by Oliver Hart and his co-authors, … See more
The first church in Jerusalem shared all their money and possessions (Acts of the Apostles 2 and 4).
Inspired by the Early Christians, many Christians have … See moreMany socialist movements, including Marxist, anarchist, reformist, and communalist movements, advocate the common ownership … See more
Wikipedia text under CC-BY-SA license WEBDec 18, 2023 · Common ownership under socialism may take shape through technocratic, oligarchic, totalitarian, democratic, or even voluntary rule. A prominent historical example of a socialist country,...
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