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The term socialism refers to any system in which the production and distribution of goods and services is a shared responsibility of a group of people. Socialism is based upon economic and political theories that advocate for collectivism. In a state of socialism, there is no privately owned property.

In theories developed by Karl Marx, socialism is the transitional period between capitalism and communism.

Socialism can exist within countries as an overall economic system or within factions thereof such as corporations, healthcare, public education, and education.

Countries cannot be wholly defined as socialist if they have not declared themselves as such in a constitution or through their national name. Throughout history socialism may have been practiced in many countries but the country itself has not been labeled as socialist.

Socialism within a countrys economic systems, healthcare, education, corporations or other factions exist in these examples:

Many people use the term socialism to describe behavior in which a government takes on a larger role in the economy. For example, many opponents claim that President Barack Obama is a socialist because he takes the position that the government should be involved in many aspects of people's lives and because he believes that people have a shared responsibility to each other.

The term is not always used accurately and it is very helpful for people to have some actual examples of socialism in order to get a clear picture of this economic theory.

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Examples of Socialism - YourDictionary