Entity: SOCIALISM
Socialism is an economic and political philosophy advocating for social ownership of the means of production, emphasizing collective or governmental control over resources for goods and services.
SOCIALISM
Etymology
The term 'socialism' originated from the Latin word 'socius' meaning 'companion' or 'ally', and the French word 'socialisme' which emerged in the early 19th century.
Definition
Socialism is an economic and political philosophy encompassing diverse systems characterized by social ownership of the means of production, advocating for public or collective control over property and resources for goods and services.
Historical Context
Socialism emerged as a response to the inequalities and exploitations of capitalist systems, with notable movements and theories evolving in the 19th and 20th centuries.
Cultural Significance
Socialism has played a significant role in shaping political ideologies, social movements, and economic policies worldwide, influencing debates on wealth distribution, social welfare, and government intervention.
Related Concepts
Socialism is often contrasted with capitalism, communism, and other economic systems, highlighting differing views on property rights, economic planning, and social equality.
See Also
An economic and political philosophy advocating for social ownership of the means of production, emphasizing collective or governmental control over resources for goods and services.