Socialism - Definition and More from the Free Merriam-Webster Dictionary
Definition of SOCIALISM
1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2a : a system of society or group living in which there is no private property b : a system or condition of society in which the means of production are owned and controlled by the state
3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done
I disagree with the definition that socialism is government ownership. That is statism parading around as socialism.
When the state is taxing you at an excessive percent rate, in essence, they do own you. I want no part of Sweden, Europe, etc.
And interesting that SOME EU 'States' are backtracking...It's become unsustainable...lest they end up as Greece? Spain?