socialism

1. (Marxism-Leninism) The intermediate phase of social development between capitalism and communism in Marxist theory in which the state has control of the means of production.Examples: "For me, socialism is not statism, or the collective ownership of the means of production. It is a judgment on the priorities of economic policy…the community takes precedence over the individual in legitimate economic policy. The first lien on the resources of a society therefore should be to establish that "social minimum" which would allow individuals to lead a life of self-respect, to be members of the community."uncountableusually

2. (chiefly US, often derogatory, colloquial) Any left-wing ideology, government regulations, or policies promoting a welfare state, nationalisation, etc.Examples: "I have used the term "liberal solidarity". It needs to stake out its ideological territory and to debate not only with socialism and conservatism, but with other varieties of liberalism."UScolloquialderogatoryoftenuncountableusually