In economic and political discourse, the term socialism represents a system advocating for collective or governmental ownership of the means of production and distribution. Socialism aims to reduce economic inequality and provide a social safety net, ensuring that all citizens have access to basic needs such as healthcare, education, and housing. Political movements advocating socialism often emphasize workers' rights, social justice, and economic democracy. The implementation of socialist policies can vary widely, from democratic socialism, which incorporates democratic processes, to more authoritarian forms. The discussion surrounding socialism remains relevant as societies seek to address socio-economic challenges.