Socialism vs. Liberalism

Socialismnoun

Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.

Socialismnoun

A system of social and economic equality in which there is no private property.

Socialismnoun

A system or condition of society in which the means of production are owned and controlled by the state.

Socialismnoun

(Marxism) The intermediate phase of social development between capitalism and full communism in Marxist theory in which the state has control of the means of production.

Socialismnoun

Any of a group of later political philosophies such democratic socialism and social democracy which do not envisage the need for full state ownership of the means of production nor transition to full communism, and which are typically based on principles of community decision making, social equality and the avoidance of economic and social exclusion, with economic policy giving first preference to community goals over individual ones.

Socialismnoun

Any left-wing ideology, government regulations, or policies promoting a welfare state, nationalisation, etc.

Socialismnoun

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.

Socialismnoun

a political theory advocating state ownership of industry

Socialismnoun

an economic system based on state ownership of capital

Socialism

Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production. It includes the political theories and movements associated with such systems.

Liberalismnoun

The quality of being liberal.

Liberalismnoun

(politics) Any political movement founded on the autonomy and personal freedom of the individual, progress and reform, and government by law with the consent of the governed.

Liberalismnoun

(economics) An economic ideology in favour of laissez faire and the free market (related to economic liberalism).

Liberalismnoun

Liberal principles; the principles and methods of the liberals in politics or religion; specifically, the principles of the Liberal party.

Liberalismnoun

a political orientation that favors progress and reform

Liberalismnoun

an economic theory advocating free competition and a self-regulating market and the gold standard

Liberalism

Liberalism is a political and moral philosophy based on liberty, consent of the governed and equality before the law. Liberals espouse a wide array of views depending on their understanding of these principles, but they generally support individual rights (including civil rights and human rights), democracy, secularism, freedom of speech, freedom of the press, freedom of religion and a market economy.