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Definitions from the Web

Socialist Economy

A socialist economy is an economic system in which the means of production and distribution of goods and services are owned and controlled by the state or the community as a whole, with the aim of promoting social welfare and reducing inequalities.

Examples of usage:

Noun:

1. The country adopted a socialist economy, with the government controlling major industries.
2. Under the socialist economy, healthcare and education were provided to all citizens free of charge.

Adjective:

1. The socialist economy policies led to a more equitable distribution of wealth.
2. Workers in the socialist economy enjoyed protections and benefits such as job security and healthcare.

Possible related products:

• Books on socialist economy
• Books on socialist economic theory
• Books on socialist economic models