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Socialism

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Socialism is a democratic economic system which advocates public ownership and centralised planning of all major industries, banks and insurance companies, transportation, the media, and medical provision. In European politics the term is used politically to refer to left of centre politics, usually including progressive social policies such as women's rights, human rights and similar progressive concerns, and is often in allied with environmentalist (green) political parties and NGOs. In the United States it is often used as a snarl word.

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