Pronounce Socialism as S OW K IY AH L IY S M.
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a system of rule in which the government controls the main industries
socialism(noun)a political theory advocating state ownership of industry
socialism, socialist economy(noun)an economic system based on state ownership of capital
a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companiesan ardent opponent of socialism
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