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socialism
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 Related Terms
• communism
• capitalism

 

Definition:
Socialism is a political and economic philosophy in which property is owned in common, rather than privately. Different types of socialism involve different degrees of public ownership. More extreme versions of socialism can fall under the heading of communism, both of which are contrasted with capitalism.

Also Known As: none

Alternate Spellings: none

Common Misspellings: none

Related Resources:

What are Political and Legal Philosophy
The Philosophy of Politics and the Philosophy of Law are often studied separately, but they are presented here jointly because they both come back to the same thing: the study of force. Politics is the study of political force in the general community, while jurisprudence is the study of how laws can and should be used to achieve political and social goals.

What is Philosophy?
What is philosophy? Is there any point in studying philosophy, or is it a useless subject? What are the different branches of philosophy - what's the difference between aestheitcs and ethics? What's the difference between metaphysics and epistemology?

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