(noun) An economic system in which goods and services are produced and distributed via State planning and collective ownership of raw materials (commodities) and the means of production, with the intent to share wealth equally among members of a society.
- IPA Pronunciation
- American English
- British English
- American English
- Syllabification: (so·cial·ism)
- Socialism is often compared and contrasted to other economic systems such as capitalism and communism.
- Mutualism refers to the contractual exchange of products between individuals and cooperative groups.
- Also called:
- state run
- socialist economy
- “Though Marx is often identified with the communist revolutions and social governments that appeared in many nations in the 20th century, Marx actually had little to say about communism or socialism. Marx was a utopian who centered his attention on capitalism and its internal dynamics, assuming that when socialism replaced capitalism many of world’s problems would disappear” (Hughes and Kroehler 2008:12).
- “What does post-modernity ordinarily refer to? Apart from the general sense of living through a period of marked disparity from the past, the term usually means one or more of the following: that we have discovered that nothing can be known with any certainty, since all pre-existing ‘foundations’ of epistemology have been shown to be unreliable; that ‘history’ is devoid of teleology and consequently no version of ‘progress’ can plausibly be defended; and that a new social and political agenda has come into being with the increasing prominence of ecological concerns and perhaps new social movements generally. Scarcely anyone today seems to identify post-modernity with what it was once widely accepted to mean – the replacement of capitalism by socialism” (Giddens 1990:46).
- Word origin of “socialism” – Online Etymology Dictionary: etymonline.com
- Howard, Michael Wayne, ed. 2001. Socialism. Amherst: NY: Humanity.
- Maass, Alan. 2010. The Case for Socialism. 3rd ed. Chicago, Haymarket.
- Marx, Karl, and Friedrich Engels.  2016. The Communist Manifesto. New York: Sayre Street.
- Muravchik, Joshua. 2004. Heaven on Earth: The Rise and Fall of Socialism. London: Politico’s.
- Newman, Michael. 2005. Socialism: A Very Short Introduction. Oxford: Oxford University Press.
- Proudhon, Pierre-Joseph. 1840. What Is Property? Auckland, NZ: Floating Press.
Giddens, Anthony. 1990. The Consequences of Modernity. Cambridge: Polity Press.
Hughes, Michael, and Carolyn J. Kroehler. 2008. Sociology: The Core. 8th ed. Boston: McGraw-Hill.
Abercrombie, Nicholas, Stephen Hill, and Bryan Turner. 2006. The Penguin Dictionary of Sociology. 5th ed. London: Penguin.
Andersen, Margaret L., and Howard Francis Taylor. 2011. Sociology: The Essentials. 6th ed. Belmont, CA: Wadsworth.
Bilton, Tony, Kevin Bonnett, Pip Jones, David Skinner, Michelle Stanworth, and Andrew Webster. 1996. Introductory Sociology. 3rd ed. London: Macmillan.
Brinkerhoff, David, Lynn White, Suzanne Ortega, and Rose Weitz. 2011. Essentials of Sociology. 8th ed. Belmont, CA: Wadsworth.
Encyclopædia Britannica. (N.d.) Britannica Digital Learning. (https://britannicalearn.com/).
Ferrante, Joan. 2011a. Seeing Sociology: An Introduction. Belmont, CA: Wadsworth.
Ferrante, Joan. 2011b. Sociology: A Global Perspective. 7th ed. Belmont, CA: Wadsworth.
Ferris, Kerry, and Jill Stein. 2010. The Real World: An Introduction to Sociology. 2nd ed. New York: Norton.
Griffiths, Heather, Nathan Keirns, Eric Strayer, Susan Cody-Rydzewski, Gail Scaramuzzo, Tommy Sadler, Sally Vyain, Jeff Bry, Faye Jones. 2016. Introduction to Sociology 2e. Houston, TX: OpenStax.
Henslin, James M. 2012. Sociology: A Down-to-Earth Approach. 10th ed. Boston: Allyn & Bacon.
Hughes, Michael, and Carolyn J. Kroehler. 2011. Sociology: The Core. 10th ed. New York: McGraw-Hill.
Kendall, Diana. 2011. Sociology in Our Times. 8th ed. Belmont, CA: Wadsworth.
Kimmel, Michael S., and Amy Aronson. 2012. Sociology Now. Boston: Allyn & Bacon.
Kornblum, William. 2008. Sociology in a Changing World. 8th ed. Belmont, CA: Wadsworth.
Macionis, John. 2012. Sociology. 14th ed. Boston: Pearson.
Macionis, John, and Kenneth Plummer. 2012. Sociology: A Global Introduction. 4th ed. Harlow, England: Pearson Education.
Macmillan. (N.d.) Macmillan Dictionary. (https://www.macmillandictionary.com/).
Merriam-Webster. (N.d.) Merriam-Webster Dictionary. (http://www.merriam-webster.com/).
O’Leary, Zina. 2007. The Social Science Jargon Buster: The Key Terms You Need to Know. Thousand Oaks, CA: SAGE.
Oxford University Press. (N.d.) Oxford Dictionaries. (https://www.oxforddictionaries.com/).
Ravelli, Bruce, and Michelle Webber. 2016. Exploring Sociology: A Canadian Perspective. 3rd ed. Toronto: Pearson.
Schaefer, Richard. 2013. Sociology: A Brief Introduction. 10th ed. New York: McGraw-Hill.
Scott, John, and Gordon Marshall. 2005. A Dictionary of Sociology. New York: Oxford University Press.
Shepard, Jon M. 2010. Sociology. 11th ed. Belmont, CA: Wadsworth.
Shepard, Jon M., and Robert W. Greene. 2003. Sociology and You. New York: Glencoe.
Stewart, Paul, and Johan Zaaiman, eds. 2015. Sociology: A Concise South African Introduction. Cape Town: Juta.
Taylor & Francis. (N.d.) Routledge Handbooks Online. (https://www.routledgehandbooks.com/).
Thompson, William E., and Joseph V. Hickey. 2012. Society in Focus: An Introduction to Sociology. 7th ed. Boston: Allyn & Bacon.
Thorpe, Christopher, Chris Yuill, Mitchell Hobbs, Sarah Tomley, and Marcus Weeks. 2015. The Sociology Book: Big Ideas Simply Explained. London: Dorling Kindersley.
Tischler, Henry L. 2011. Introduction to Sociology. 10th ed. Belmont, CA: Wadsworth.
Turner, Bryan S., ed. 2006. The Cambridge Dictionary of Sociology. Cambridge: Cambridge University Press.
Wikipedia contributors. (N.d.) Wikipedia, The Free Encyclopedia. Wikimedia Foundation. (https://en.wikipedia.org/).
Wiley. (N.d.) Wiley Online Library. (http://onlinelibrary.wiley.com/).
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2013. “socialism.” In Open Education Sociology Dictionary. Retrieved October 13, 2019 (https://sociologydictionary.org/socialism/).
APA – American Psychological Association (6th edition)
socialism. (2013). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/socialism/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2013. “socialism.” In Open Education Sociology Dictionary. Accessed October 13, 2019. https://sociologydictionary.org/socialism/.
MLA – Modern Language Association (7th edition)
“socialism.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2013. Web. 13 Oct. 2019. <https://sociologydictionary.org/socialism/>.