Pronunciation: \ˈsō-shə-ˌli-zəm\
Function: noun
Date: 1837
1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2
a: a system of society or group living in which there is no private property
b: a system or condition of society in which the means of production are owned and controlled by the state
3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done
(source: Merriam Webster Dictionary
1 comment:
Here's a handy table of years in which the US has been under the throes of so·cial·ism: http://en.wikipedia.org/wiki/Income_tax_in_the_United_States#History_of_top_rates.
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