Definition of "socialism" []

• Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy. (noun)
• The stage in Marxist-Leninist theory intermediate between capitalism and communism, in which collective ownership of the economy under the dictatorship of the proletariat has not yet been successfully achieved. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "They use the term "socialism" as a pejorative to describe this government activity as an erosion of traditional capitalism and warn investors about the perils of investing in an increasingly socialist economy."
• "In the US the term socialism is only used to describe some programs."
• "First, people in the room responded to the use of the term socialism, as it is used a part of a witch hunt."