Origin: Greek suffix -ism
Socialism has 4 different meanings across 1 category:
a political theory advocating state ownership of industry
"The debate centered on whether socialism, which advocates for state ownership of industry, was the best way to manage the country's resources during the crisis."
an economic system based on state ownership of capital
"The government's new policy shifted the country toward socialism by placing all major industries under direct state ownership."
Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.
"The debate centered on whether the new policy represented a shift toward socialism, where the government would own factories instead of private individuals."
A system of social and economic equality in which there is no private property.
"Many theorists argue that true socialism requires a complete abolition of private ownership to achieve perfect economic equality."
The word socialism first appeared in English in 1832, likely borrowed from the French term socialisme. It is formed by combining the root "social" with the suffix "-ism."