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- Collective ownership of the means of productionSocialism is an economic and political system based on collective ownership of the means of production. In a socialist system, all legal production and distribution decisions are made by the government. The government also determines all output and pricing levels and supplies its citizens with everything from food to healthcare.www.investopedia.com/terms/s/socialism.asp
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Socialism - Wikipedia
Socialism is an economic and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownership. It describes the economic, political, and social theories and movements associated with the … See more
For Andrew Vincent, "[t]he word 'socialism' finds its root in the Latin sociare, which means to combine or to share. The related, more … See more
Early socialist thought took influences from a diverse range of philosophies such as civic republicanism, Enlightenment rationalism, romanticism, forms of materialism, … See more
Socialist economics starts from the premise that "individuals do not live or work in isolation but live in cooperation with one another. … See more
Wikipedia text under CC-BY-SA license Socialism | Definition, History, Types, Examples, & Facts
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WebDec 18, 2023 · Socialism is a populist economic and political system based on collective, common, or public ownership of the means of production. Those means of production include the machinery, tools, and...
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WebAug 26, 2021 · Collective Ownership: In a pure socialist society, the factors of production are owned equally by everyone in the society. The four factors of production are labor, capital goods, natural resources, and, …
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WebMay 13, 2019 · In this essay, E.J. Dionne, Jr. and Bill Galston give a primer on socialism in three parts: its definition, the age gap in perceptions of socialism among Americans, and how socialism evolved...
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