Okay so we had a reading lesson in poli sci today and here are some things i learned, but kinda already knew about the left and right. Modern Liberals support high government involvement in industry and businesses, but little to none in social issues Modern conservatives support little to no government involvement in industry and business, but high government involvement in social issues. Socialism 1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole. In definition, modern liberals are socialists. haha.