Socialism;

noun so·cial·ism \ˈsō-shə-ˌli-zəm\

Simple Definition of socialism

: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies






Full 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

2 a : 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

ref: http://www.merriam-webster.com/dictionary/socialism

...it just is.... ...oh Common One ....