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Socialism

Socialist refers to a person who adheres to or advocates for socialism, a range of economic and political theories that support some form of social ownership and democratic control of the means of production as part of a strategy to promote and develop a society based on equitable distribution of resources among individuals. The term "socialist" can also describe a person who supports or is a member of a socialist party or movement. In Hebrew, the term is translated as סוציאליסט (sotsialist). In Spanish, it is socialista, in French, socialiste, and in German, Sozialist. Socialists often criticize capitalism for its perceived inequities and advocate for various forms of economic democracy, social justice, and the reduction of income inequality. Key historical figures associated with socialist thought include Karl Marx, Friedrich Engels, and Robert Owen, among others. The implementation of socialist principles has varied widely, encompassing everything from democratic socialism to state socialism and communism.

Wikipedia Information
Socialism
Political philosophy emphasising social ownership of production
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 implementation of such systems. Social ownership can take various forms, including public, community, collective, cooperative, or employee. As one of the main ideologies on the political spectrum, socialism is the standard left-wing ideology in most countries. Types of socialism vary based on the role of markets and planning in resource allocation, and the structure of management in organizations.
Last modified: 2025-11-10T17:43:24ZView full article on Wikipedia