Socialism word meaning and definition

[noun] a political theory advocating state ownership of industry
[noun] an economic system based on state ownership of capital

\Socialism\, n. {Socialism of the chair} [G. katheder socialismus], a term applied about 1872, at first in ridicule, to a group of German political economists who advocated state aid for the betterment of the working classes. Sock \Sock\, v. t. [Perh. shortened fr. sockdolager.] To hurl, drive, or strike violently; -- often with it as an object. [Prov. or Vulgar] --Kipling.
\So"cial*ism\, n. [Cf. F. socialisme.] A theory or system of social reform which contemplates a complete reconstruction of society, with a more just and equitable distribution of property and labor. In popular usage, the term is often employed to indicate any lawless, revolutionary social scheme. See {Communism}, {Fourierism}, {Saint-Simonianism}, forms of socialism. [Socialism] was first applied in England to Owen's theory of social reconstruction, and in France to those also of St. Simon and Fourier . . . The word, however, is used with a great variety of meaning, . . . even by economists and learned critics. The general tendency is to regard as socialistic any interference undertaken by society on behalf of the poor, . . . radical social reform which disturbs the present system of private property . . . The tendency of the present socialism is more and more to ally itself with the most advanced democracy. --Encyc. Brit. We certainly want a true history of socialism, meaning by that a history of every systematic attempt to provide a new social existence for the mass of the workers. --F. Harrison.

Morse code: ... --- -.-. .. .- .-.. .. ... --