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Meaning of STATE SOCIALISM

Pronunciation:  steyt 'sowshu`lizum

 
WordNet Dictionary
 
 Definition: 
[n]  an economic system in which the government owns most means of production but some degree of private capitalism is allowed
 
 See Also: economic system, economy

 

 

Webster's 1913 Dictionary
 
 Definition: 
\State socialism\
A form of socialism, esp. advocated in Germany, which, while
retaining the right of private property and the institution
of the family and other features of the present form of the
state, would intervene by various measures intended to give
or maintain equality of opportunity, as compulsory state
insurance, old-age pensions, etc., answering closely to
socialism of the chair.

 

 

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