noun
Common
socialism
SOH-shuh-lih-zuhm
Socialism (noun) means a political and economic system in which the means of production, distribution, and wealth are owned or controlled collectively, often by the state, rather than by private individuals. Example: “In economics class we compared socialism with other ways of organising a country's industries.”
noun
1
A political and economic system in which the means of production, distribution, and wealth are owned or controlled collectively, often by the state, rather than by private individuals.
"In economics class we compared socialism with other ways of organising a country's industries."
"The party campaigned on a platform of democratic socialism."
"Under socialism, key industries are typically state-owned."
How to use socialism
Learner’s notesIn plain EnglishThe idea that a society's wealth and industries should be owned or controlled collectively rather than by private individuals.
Easily confused with
Common pairings
democratic socialism
under socialism
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Word forms
- Plural
- socialisms
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In economics class we compared _____ with other ways of organising a country's industries.
Etymology
First recorded in the 1830s, from French socialisme or built directly from social + -ism.
Synonyms
View more →Antonyms
capitalism
free enterprise
Related words
Rhymes for socialism
realism
fatalism
idealism
globalism
vandalism
federalism
radicalism
capitalism
liberalism
surrealism
journalism
materialism
See all rhymes for socialism →
Frequently asked questions
What does “socialism” mean?
The word “socialism” means a political and economic system in which the means of production, distribution, and wealth are owned or controlled collectively, often by the state, rather than by private individuals. In plain terms, the idea that a society's wealth and industries should be owned or controlled collectively rather than by private individuals.
How do you pronounce “socialism”?
“Socialism” is pronounced SOH-shuh-lih-zuhm (/ˈsoʊʃəlɪzəm/ in IPA).
How do you use “socialism” in a sentence?
Here is “socialism” used in a sentence: “The party campaigned on a platform of democratic socialism.”
What is the opposite of “socialism”?
The opposite of “socialism” — its antonyms — are capitalism and free enterprise.
What part of speech is “socialism”?
“Socialism” is a noun.
Where does the word “socialism” come from?
The word “socialism” dates back to around 1830 and comes from French. First recorded in the 1830s, from French socialisme or built directly from social + -ism.
Is “socialism” a common word?
“Socialism” is a fairly common word in modern English.
What is the difference between socialism and communism?
Both involve collective rather than private ownership, but they differ in degree. Socialism allows for varying levels of state or collective control, often within a democratic system, whereas communism envisions a classless society with common ownership of all property and no private ownership of the means of production.
What is the difference between socialism and capitalism?
Under socialism the means of production and distribution are owned or controlled collectively, often by the state. Under capitalism they are owned privately by individuals and companies, with markets and profit guiding the economy.
What is the difference between socialism and social democracy?
Socialism, in its fuller sense, seeks collective ownership of the means of production. Social democracy generally keeps a market economy with private ownership but adds strong public services, welfare, and regulation, so it is often seen as a reform-minded relative rather than the same thing.
Is socialism the same as Marxism?
They are related but not identical. Marxism is a specific body of theory developed from the analysis of class and capitalism, while socialism is a broader term for systems of collective ownership that may or may not draw on Marxist ideas.
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