The dictionary points out that socialism can refer to any number of economic or political theories which advocate collective or governmental ownership and administration. It can also refer to Marx's idea that socialism was the intermediate point in a transition from a capitalist to a communist model of government.

Socialism refers to a system of social organization in which private property and the distribution of income are subject to social control. Socialism also refers to the political movements aimed at putting that system into practice. So what does "social control" mean? Because it can mean a number of things, socialism has been applied to movements ranging from statist to libertarian systems and from Marxist to liberal designs. Check out the Collegiate Encyclopedia article and let the links help you explore the breadth of related terms.