Meaning of “socialism” in the English Dictionary

british dictionary

"socialism" in British English

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socialismnoun [ U ]

uk /ˈsəʊ.ʃəl.ɪ.zəm/ us /ˈsoʊ.ʃəl.ɪ.zəm/

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

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(Definition of “socialism” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"socialism" in American English

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socialismnoun [ U ]

us /ˈsoʊ·ʃəˌlɪz·əm/

(Definition of “socialism” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"socialism" in Business English

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socialismnoun [ U ]

uk /ˈsəʊʃəlɪzəm/ us

POLITICS, ECONOMICS an economic, political, and social system that is based on the belief that all people are equal and should share equally in a country's money:

It is a culture that is closer to socialism than capitalism.
Following the collapse of state socialism, there were many questions about how the societies of Central and Eastern Europe would become integrated into international capitalism.

(Definition of “socialism” from the Cambridge Business English Dictionary © Cambridge University Press)