what is the property of socialism in the beginning stage in Europe.
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Socialism is an economic and political system. It is an economic theory of social organization. It believes that the means of making, moving, and trading wealth should be owned or controlled by the workers. ... People who agree with this type of system are called socialists.
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A socialist economy features social rather than private ownership of the means of production. It also typically organizes economic activity through planning rather than market forces, and gears production towards needs satisfaction rather than profit accumulation.
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