Socialist countries

Socialist countries are nations where the government or the community collectively own and manage major resources and industries, aiming to reduce economic inequality. Instead of private individuals controlling most business activities, the state often plans and allocates resources to ensure social welfare, healthcare, and education for all. This system seeks to prioritize public needs over profit, promoting fairness and access, though implementations can vary widely. Examples include historically the Soviet Union and Cuba, which emphasized centralized planning, while modern examples like China incorporate a mix of socialism and capitalism.