Socialism –noun
1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
2. procedure or practice in accordance with this theory.
3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.
Too bad, socialism places the power in the "community". Yet we all know that there's only one force that can make sure that happens, and that is the government. Therefore, he who controls the politicians, controls the country. Socialism is nothing but economic Fascism... The wealth never ends up in the hands of the "community", but instead, in the hands of the small oligarchy that controls the government...