state socialism

(noun) “[A]n economic system in which the government owns most means of production but some degree of private capitalism is allowed” (Princeton University 2010).

Audio Pronunciation: (state so·cia·lism)

Download Audio Pronunciation: state socialism.mp3

Usage Notes:

  • State socialism was originally envisioned by Karl Marx (1818–1883) to replace capitalism and the state would consist of a democratic state or a collective (e.g. workers).

Additional Information:

Related Terms: 

 


References

Princeton University. 2010. “About WordNet.” WordNet. (http://wordnet.princeton.edu/wordnet).

Facebooktwittergoogle_plusredditlinkedintumblrFacebooktwittergoogle_plusredditlinkedintumblr