Keyword Analysis & Research: simple definition of socialism for dummies

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What is the true meaning of socialism?

so·​cial·​ism | \ ˈsō-shə-ˌli-zəm \. 1 : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.

What are facts about socialism?

Interesting Socialism Facts: The term 'socialism' was coined by Henri de Saint-Simon, a founder of utopian socialism (along with Robert Owen). Socialism falls between communism and capitalism in terms of beliefs and ideology. The fundamental view of socialism is that man, society, and the universe are equal.

What is the difference between capitalism and socialism?

Capitalism: What Is the Difference? Capitalism Definition. Capitalism is an economic system under which private individuals own and control businesses, property, and capital-the "means of production." Socialism Definition. ... The Socialism vs. ... Healthcare and Taxation. ... Capitalist and Socialist Countries Today. ...

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