From Longman Business Dictionary
socialismso·cial·is·m /ˈsəʊʃəl-ɪzəmˈsoʊ-/ noun [uncountableU]ECONOMICS a system of political beliefs and principles whose main aims are that everyone should have an equal opportunity to share wealth and that industries should be owned by the governmentIs there a way to combine the efficiency of the market with the values of socialism?