Socialism
Socialism is an economic system characterised by social ownership of the means of production and co-operative management of the economy, and a political philosophy advocating such a system. "Social ownership" may refer to cooperative enterprises, common ownership, state ownership, or citizen ownership of equity. There are many varieties of socialism and there is no single definition encapsulating all of them. They differ in the type of social ownership they advocate, the degree to which they rely on markets or planning, how management is to be organised within productive institutions, and the role of the state in constructing socialism.
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Famous quotes containing the word socialism:
“Men conceive themselves as morally superior to those with whom they differ in opinion. A Socialist who thinks that the opinions of Mr. Gladstone on Socialism are unsound and his own sound, is within his rights; but a Socialist who thinks that his opinions are virtuous and Mr. Gladstone’s vicious, violates the first rule of morals and manners in a Democratic country; namely, that you must not treat your political opponent as a moral delinquent.”
—George Bernard Shaw (1856–1950)
“To make men Socialists is nothing, but to make Socialism human is a great thing.”
—Oscar Wilde (1854–1900)
“Hermann Goering, Joachim von Ribbentrop, Albert Speer, Walther Frank, Julius Streicher and Robert Ley did pass under my inspection and interrogation in 1945 but they only proved that National Socialism was a gangster interlude at a rather low order of mental capacity and with a surprisingly high incidence of alcoholism.”
—John Kenneth Galbraith (b. 1908)