Socialism

/ˈsəʊʃəlɪzəm/
Definition 1 of 3
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State Control

Socialism emphasizes the role of the government in managing production and distribution.

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Under socialism, the government might run the railroads and hospitals.
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Not Communism

While similar, socialism and communism are not the same; socialism allows for some private ownership.

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Socialism allowed small businesses, unlike communism.
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Mixed Economies

Many countries use elements of socialism within a capitalist framework, creating a mixed economy.

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Canada's healthcare system is an example of socialism in a capitalist society.
Visual representation of the word "Socialism"

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