socialism
noun/ˈsoʊʃəˌlɪzəm/
Frequency rank: #4,913 of 20,003 in the WORDED list (wordfreq data)
Meaning
A political and economic system in which the means of production and distribution are owned or regulated collectively, often by the state.
Example sentence
Many people debate whether socialism leads to greater equality or stifles economic growth.
Synonyms & related words
- collectivism
- statism
- communalism
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