Social Ownership

Social ownership refers to the concept where resources and means of production are owned collectively by society rather than by private individuals. This means that instead of companies being owned by shareholders, they are owned by the community or state, aiming to benefit the public as a whole. Social ownership seeks to promote equity, improve resource distribution, and reduce inequalities, often seen in systems like socialism. It contrasts with capitalism, where private ownership drives economic activity and profit. The idea is that by sharing ownership, society can work together for common good and address collective needs.