Irwin
Well-known Member
- Location
- Denver, Colorado, U.S.A.
If you Google socialism, you can come up with a few different definitions...
Some of the definitions define it as public ownership of production while others say that it includes public control of production, i.e. regulation. I've always understood it to be public ownership of production, but I may have been wrong.
What's been your understanding of socialism.
From Oxford languages: a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
From Wikipedia: Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production.
From Britannica: Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.
From Dictionary.com: a theory or system of social organization that advocates the ownership and control of the means of production and distribution, capital, land, etc., by the community as a whole, usually through a centralized government.
Some of the definitions define it as public ownership of production while others say that it includes public control of production, i.e. regulation. I've always understood it to be public ownership of production, but I may have been wrong.
What's been your understanding of socialism.