Socialism
Socialism is an economic system characterised by social ownership of the means of production and co-operative management of the economy, and a political philosophy advocating such a system. "Social ownership" may refer to cooperative enterprises, common ownership, state ownership, or citizen ownership of equity. There are many varieties of socialism and there is no single definition encapsulating all of them. They differ in the type of social ownership they advocate, the degree to which they rely on markets or planning, how management is to be organised within productive institutions, and the role of the state in constructing socialism.
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Famous quotes containing the word socialism:
“Without freedom, no art; art lives only on the restraints it imposes on itself, and dies of all others. But without freedom, no socialism either, except the socialism of the gallows.”
—Albert Camus (1913–1960)
“There’s no such thing as socialism pure
Except as an abstraction of the mind.
There’s only democratic socialism,
Monarchic socialism, oligarchic
The last being what they seem to have in Russia.”
—Robert Frost (1874–1963)
“To make men Socialists is nothing, but to make Socialism human is a great thing.”
—Oscar Wilde (1854–1900)