socialism
so‧cial‧is‧m /ˈsəʊʃəl-ɪzəm $ ˈsoʊ-/
noun [uncountable]
so‧cial‧is‧m /ˈsəʊʃəl-ɪzəm $ ˈsoʊ-/
noun [uncountable] Word Family: noun: society, sociologist, sociology, sociability, social, socialism, socialist, socialite, socialization, sociopath; adjective: sociable ≠ unsociable, social ≠ ANTI-SOCIAL, unsocial, socialist, socialistic, societal, sociological, sociopathic; adverb: socially, sociably, sociologically; verb: socialize
an economic and political system in which large industries are owned by the government, and taxes are used to take some wealth away from richer citizens and give it to poorer citizens ⇨ capitalism, communism