What Is Socialism? Definition and Examples - ThoughtCo
https://www.thoughtco.com/a-definition-of-socialism-3303637
WebAug 26, 2021 · Socialism is an economic, social, and political system based on public rather than private ownership of a country’s means of production. Means of production include the machinery, tools, and factories used to produce the goods needed to satisfy human needs. In a socialist system, all decisions regarding production, distribution, and pricing ...
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