Black's Law Dictionary (2nd edition)dictionaries

Socialism

A scheme of government aiming at absolute equality in the distribu-tion of the physical means of life and en-Joyment It is on the continent employed in a larger sense; not necessarily implying communism, or the entire abolition of private property, but applied to any system which requires that the land and the instruments of production should be the property, not of in-dividnals, but of communities or associations or of the government 1 Mill, Pol. Econ. 248

Source: Black's Law Dictionary 2nd Ed (1910)