Socialism is a political and economic system in which the major means of production—such as land and natural resources, factories, machinery, and other productive capital—are owned or controlled collectively rather than primarily by private individuals or companies. Collective ownership or control can take different forms, including state, public, cooperative, or worker ownership. The aim is for members of society to share more equitably in economic resources and the wealth they produce, and for production and distribution to serve the needs of society as a whole.
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