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a range of economic and social systems characterised by social ownership of the means of production and workers' self-management, as well as the political theories and movements associated with them. Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity. The idea would work, if human nature was not taken into account. If taken into account (which is what it would be in real life) it doesnt work. Human greed will overcome, and the government will always become totalitarian and corrupt. Therefore, socialism, and its counterpart, communism does not work. When describing a person who follows the ideas of socialism, use word socialist In the recent years (2018-2019) socialism has been picked up by democrats and liberals in the United States. Even after many failiures of socialism, they still follow the the idea hell-bent on failing. Senators such as Berny Sanders and president Barack Obama follow such ideas.
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