Socialism (Marxist Socialism) Socialism is an economic system, a political movement, and a social theory. Most socialists believe those national or local governments, rather than individuals, should own a nation's resources and control their use. Socialism calls for public ownership of land, factories, and other basic means of production. Socialism and Communism The word socialism and communism once meant about the same thing--a society based on public ownership of the means of production. Today, people …showed first 75 words of 2239 total…

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