socialist

Socialism is an economic and political system where the community or the government owns and manages major resources and industries, rather than private individuals. Its goal is to promote equality by ensuring that wealth and resources are distributed more fairly among everyone. Instead of individual profit being the primary motivator, socialism emphasizes collective well-being, social welfare, and public services like healthcare and education. Different countries implement socialism to varying degrees, often combining it with other economic principles to balance private enterprise and public ownership, aiming for a fairer society with reduced economic inequality.