A socioeconomic system prioritizing collective or state ownership of production means over private control. It aims to distribute resources based on contribution or need, reducing inequality. Workers and communities benefit through public services like healthcare and education, while government manages key industries to serve social welfare over profit.
Get alerts when this topic surges in newsletters. Free to start.
Sign up freeExplore more trends:Trending Topics ·This Month's Top Topics ·AI Trends ·Business Trends ·Finance Trends ·Technology Trends