a political and
economic system in which the means of
production of
goods and
services and the
distribution of wealth are controlled by the people as a
group or by the
government; for
example, a system such as
communism or
socialism.
the
socialistic theory of the
collective ownership or
control of all the means of
production, and especially of the land, by the whole
community or
state, i.e., the people collectively, for the
benefit of the people as a whole. See also
socialism in this glossary.
the
socialistic theory of the
collective ownership or
control of all the means of
production, and especially of the land, by the whole
community or
state, i.e., the people
col lectively, for the
benefit of the people as a whole. See also
socialism in this glossary.
a political and
economic system in which the means of
production of
goods and
services and the
distribution of wealth are controlled by the people as a
group or by the
government; for
example, a system such as
communism or
socialism.
-World Book Dictionary. GLOSSARY