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Socialism is described by this saying:  "From each according to his ability, to each according to his needs."  Socialism allows private property in the form of wages to workers, but not in the form of ownership of large companies.

Socialism is described by this saying:  "From each according to his ability, to each according to his needs."  Socialism allows private property in the form of wages to workers, but not in the form of ownership of large companies.

[[Marx, Karl|Karl Marx]] considered socialism to be a transitory stage between capitalism (full private property rights) and communism (almost no private property rights).

[[Marx, Karl|Karl Marx]] considered socialism to be a transitory stage between capitalism and communism.  Under "true communism" the government would cease to exist and all property would be shared by decentralized collectives.

Socialist parties are extremely common in Europe, for example, [[Tony Blair]] belongs to the Labour Party, a democratic [[socialist]] party<ref>[http://www.labour.org.uk/index.php?id=labourdemocracy]</ref>

Socialist parties are extremely common in Europe, for example, [[Tony Blair]] belongs to the Labour Party, a democratic [[socialist]] party<ref>[http://www.labour.org.uk/index.php?id=labourdemocracy]</ref>