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English definition of “socialism”

socialism

noun [U]     /ˈsəʊ.ʃəl.ɪ.zəm/ US  /ˈsoʊ-/
C2 the set of beliefs that states that all people are equal and should share equally in a country's money, or the political systems based on these beliefs → Compare capitalism, communismPolitics
(Definition of socialism noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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