Socialism is an economic system where the means of production - like factories, land, and resources - are owned and controlled by the community as a whole.
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Communism: An extreme form of socialism where all property is publicly owned and each person works according to their abilities but receives according to their needs.
Marxism: The political theory derived from Karl Marx advocating class war leading to a society in which all property is publicly owned.
Democratic Socialism: A political philosophy supporting political democracy within a socially owned economy.