What is SOCIALISM?

A scheme of government aiming at absolute equality in the distribution of tlie physical means of life and enjoyment It is on the continent employed in a larger seuse; not necessarily implying communism, or the entire abolition of private property, but applied to any system which requires that the land and the instruments of production should be the property, not of individuals, but of communities or associations or of the government 1 Mill, Pol. Econ. 248.

More On This Topic



Link to This Definition
Did you find this definition of SOCIALISM helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary