socialism

Definition

Economic system which is based on cooperation rather than competition and which utilizes centralized planning and distribution.

Use socialism in a sentence

I was not a big supporter of socialism and thought that it was a terrible approach to handling a society.

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Many wealthy French citizens fear the rise of socialism in their country will lead to higher tax rates with more bloated bureaucracies, which could weaken the country's global economic competitiveness.

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It wasn't until he started to converse with experts about how he could rebuild his lower class community that he realized he could not help make any changes because of socialism.

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