Socialism

Socialism is an economic ideology and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownership; it describes the economic, political and social theories and movements associated with implementing such systems. Social ownership can take various forms, including public, community, collective, cooperative or employee ownership, and as one of the main ideologies on the political spectrum socialism is the standard left-wing ideology in most countries, with its own types varying by the role of markets and planning in resource allocation and by the structure of management in organizations. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/